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Todd Shipyards Corporation Announces Award of Contract to Overhaul USNS Flint (T-AE 32)
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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...March 5, 2007...Todd Shipyards Corporation
(NYSE:TOD) announced today its wholly owned subsidiary, Todd Pacific Shipyards
Corporation ("Todd Pacific") was awarded a contract (Contract No. N40442-07-C-2003)
by the Military Sealift Fleet Support Command to perform mid-term availability
work on the ammunition supply ship USNS Flint (T-AE 32) ("Flint"). The
overhaul and repair work includes ship's service turbine generator and
reduction gear renewal, steering gear refurbishment, valve work and
replacement, and other repairs and preservation work. The Flint is expected
to arrive at Todd's Seattle shipyard on May 18, 2007 and is scheduled to be
completed in July 2007. The firm fixed priced contract award is $3,273,770
and includes options, which, if exercised, would bring the total contract value
to $4,028,936.
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, Military Sealift Command, MARAD, 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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