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Todd Shipyards Corporation Announces Award of Contract to Build Excavator Barge
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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...August 4, 2006... Todd Shipyards Corporation (NYSE:TOD)
announced today its wholly owned subsidiary, Todd Pacific Shipyards Corporation
("Todd Pacific") was awarded a contract by Washington Group International/Alberici,
a joint venture, under their contract with United States Army Corp of Engineers.
Under the contract Todd Pacific is to construct and deliver one custom built
barge ("Excavator Barge") to serve as a work platform for a deep digging excavator
on the Ohio River. The Excavator Barge will be used in the construction of
the Olmsted Dam, near Olmsted, Illinois. The barge will be 176 feet long
with a maximum beam of 50 feet and will have a lightship weight of approximately
1087 long tons. The firm fixed priced contract award is $10,555,998. Work
will be accomplished by the Todd Pacific workforce and selected subcontractors
commencing in August 2006 with delivery at the Olmsted site scheduled
for November 2007.
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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