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Todd Shipyards Corporation Announces U.S. Navy Award of Contract to Effect Repairs on Naval Shipyard Drydock Caisson
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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...July 05, 2006... Todd Shipyards Corporation
(NYSE:TOD) announced today that the U.S. Navy has awarded to its wholly owned
subsidiary, Todd Pacific Shipyards Corporation ("Todd Pacific"), a delivery order
under its Multiple Award Contract in the amount of $5,180,291 for the in-drydock
repairs and preservation of Caisson #4 at Drydock #2 at Puget Sound Naval Shipyard
in Bremerton, Washington. Work will be accomplished by the Todd Pacific workforce
and selected subcontractors commencing in August 2006 with completion scheduled
for November 2006. The work includes interior and exterior preservation,
structural repairs and miscellaneous maintenance items including ballast valve repairs.
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 and provides new construction and industrial
fabrication services for a wide variety of customers. Its customers include
the U.S. Navy, the U.S. Coast Guard, NOAA, the Washington State Ferry system,
the Alaska Marine Highway System, and various other commercial and governmental
customers. Todd Shipyards Corporation has operated a shipyard in Seattle
since 1916.
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