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Expertise & Experience Make Todd the Right Choice to Build Washington State Ferries
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Via Facsimile
Total Pages - 2
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Contact: Summer O'Connor
Shareholder Relations
206-623-1635 Ext. 106
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SEATTLE, WASHINGTON...March 3, 2005... Todd Shipyards Corporation (NYSE:TOD) announced
today that its wholly owned subsidiary Todd Pacific Shipyards Corporation ("Todd Pacific") is
uniquely suited to be the provider of choice to construct four new ferries for
the Washington State Ferry System. Washington State Department of Transportation ("WSDOT") announced
today that Todd Pacific is the only shipyard found to be qualified for the design and construction
of the new ferries. Washington State Ferries is asking the Legislature to allow for a contract
award based on a negotiated contract with price incentives.
"The Washington State Department of Transportation clearly recognizes that Todd Pacific can provide
unmatched quality and value because we've demonstrated it time and again in our work for the
ferry system," said Steve Welch, Todd Pacific CEO.
Each ferry would have a capacity of 130 cars and more than 1,200 passengers and crew. Todd
Pacific operates the most extensive and complete shipyard in Washington. Todd Pacific has worked
for WSDOT for many years and built the Jumbo Class and Jumbo Mark II Class ferries that are key
service providers in the largest ferry system in the country. In fact, Todd Pacific is the only
shipyard in operation today to have constructed vehicle ferries for Washington State in the
last 30 years. On its most recent ferry construction contract for WSDOT, Todd Pacific was
able to deliver excellent quality Jumbo Mark II Class ferries, currently the largest and most
technically sophisticated in the WSDOT fleet, ahead of schedule.
Todd Pacific has been performing ship construction, maintenance and repair for more than 88 years
at its Harbor Island facility in Seattle. As a full-service shipyard, Todd Pacific is
known for its ability to complete demanding building, conversion, maintenance and repair jobs of
all sizes and descriptions. Todd Pacific continuously invests in industry-leading advancements,
such as its Lean Production System, to upgrade its production and management processes. Todd Pacific's
46-acre facility has two drydocks, including the largest floating drydock in Puget Sound,
and five piers.
Todd Pacific also has extensive experience as a prime contractor, pulling together diverse teams
of service providers to execute financially and technically challenging projects to meet the
needs and expectations of its customers. Todd Pacific's people and its key suppliers are capable
of servicing WSDOT's new construction requirements, as well as continuing to provide excellent service
to its highly valued customers such as the U.S. Navy, U.S. Coast Guard and commercial interests.
Todd has operated a shipyard in Seattle since 1916 and currently employs more than 750 people.
Eleven labor unions are represented at Todd Pacific.
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