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Todd Shipyards Corporation Announces Award of U.S. Coast
Guard Multi-Year Maintenance Contract on USCGC Healy (WAGB-20)
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Via Facsimile
Total Pages - 1
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Contact: Hilary Pickerel
Shareholder Relations
206-623-1635 Ext. 106
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SEATTLE, WASHINGTON...September 29, 2005...
Todd Shipyards Corporation (NYSE:TOD) announced today that the U.S. Coast Guard has
awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation
("Todd Pacific"), a multi-year maintenance contract on the icebreaker USCGC
Healy (WAGB-20) (“Healy”). The award is for a Multi-Option Firm Fixed-Price
supply contract that will be in effect from September 2005 to March 2010
(Contract No. HSCG85-05-C-625306). It provides for the periodic pier-side
maintenance of the Healy and is to be accomplished at the U.S. Coast Guard
Integrated Support Center in Seattle, Washington. Todd Pacific estimates the
value of the contract to be in the range of $11 million over four and one
half years, if all options are exercised. There is no assurance that all options
will be exercised, in whole or in part.
The Healy was placed in service in 2000 and is the newest icebreaker in the
Coast Guard fleet. The Healy is homeported in Seattle Washington along with the
Polar Class Icebreakers, Polar Sea and Polar Star.
Todd Pacific performs a substantial amount of repair and maintenance work on
commercial and federal government vessels engaged in various seagoing trade
activities in the Pacific Northwest. Its customers include the U.S. Navy, the
U.S. Coast Guard, the Washington State Ferry system, NOAA and various other
commercial and governmental customers. Todd Shipyards has operated a shipyard
in Seattle since 1916.
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