Todd Shipyards Corporation Announces Award of U.S. Coast Guard $19M Maintenance Contract
Todd Shipyards Corporation (NYSE: TOD) announced today that the U.S. Coast Guard has awarded to its wholly owned subsidiary, Todd Pacific Shipyards Corporation, a multi-year maintenance contract on the icebreaker USCGC Healy.
The award is for a Multi-Option Firm Fixed-Price supply contract that will be in effect from November 2010 to February 2015. It provides for the periodic pier-side maintenance of the Healy and is to be accomplished at the U.S. Coast Guard Base Support Unit in Seattle, Washington.
Todd Pacific estimates the value of the contract to be in the range of $19 million over the contract period, if all options are exercised. There is no assurance that all options will be exercised, in whole or in part.
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