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Todd Shipyards unit gets $12.5M contract mod

Todd Shipyards unit gets $12.5 million modification contract for work on Coast Guard cutter

  • On 2:33 pm EDT, Thursday October 15, 2009

SEATTLE (AP) -- Todd Shipyards Corp. said Thursday a subsidiary received a $12.5 million modification to an earlier contract from the U.S. Coast Guard for repairs and alterations to the U.S. Coast Guard Cutter Healy.

The shipyard operator said the amount received by its Todd Pacific Shipyards unit modifies a previously awarded contract for maintenance work performed every three years on the icebreaker.

It provides for the alteration and repair of the ship's main propulsion system, its auxiliary systems and many other structural, mechanical and electrical features, including underwater hull inspection and renewal.

The work will be performed at Todd Pacific's shipyard in Seattle starting Oct. 20. It's expected to be completed in March 2010.

Shares of Todd Shipyards lost a penny to $17.38 in afternoon trading.

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