The deal has been approved by Todd\u2019s board but depends on satisfaction of the minimum tender condition of 67% of Todd\u2019s shares. \u201cThe combination of Vigor and Todd will create the largest and most capable marine services company in the Pacific Northwest,\u201d said Frank Foti, president of Vigor. \u201cThe combination of resources and capabilities will allow the combined companies to expand both the scope and capacity of their ship repair and new construction business.\u201d Todd\u2019s management will remain intact and all contracts will remain in place.<\/p>\n
Todd repairs and maintains commercial and government vessels and provides new construction and industrial maritime fabrication services. Its customers include the US Navy, the US Coast Guard and the Washington State Ferry system. The company has operated a shipyard in Seattle since 1916.<\/p>\n
Vigor, based 140 miles away in Portland, also provides ship repair and conversion, barge building, industrial coating, machining, industrial real estate, and fabrication services at a number of sites on the Pacific coast.<\/p>\n","protected":false},"excerpt":{"rendered":"
Portland, Oregon-based shipbuilder Vigor Industrial is to acquire Todd Shipyards in nearby Seattle for $130 million.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"sponsor":[],"class_list":["post-2966","post","type-post","status-publish","format-standard","hentry","category-general-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/posts\/2966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/comments?post=2966"}],"version-history":[{"count":0,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/posts\/2966\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/media?parent=2966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/categories?post=2966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/tags?post=2966"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.motorship.com\/propulsion-and-future-fuels-conference\/wp-json\/wp\/v2\/sponsor?post=2966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}