Conrad Industries Holds Ribbon Cutting Ceremony at New Facility.Business Editors AMELIA, La.--(BUSINESS WIRE)--March 25, 2003 Conrad Industries, Inc. (Nasdaq: CNRD) held a ribbon cutting ceremony A ribbon cutting ceremony is a public ceremony conducted to inaugurate the opening to the general public of a new building or business. Often, it is conducted in just the manner the name suggests: by tying a ceremonial ribbon across the main entrance of the building, which today at its new repair and conversion facility in Amelia, Louisiana Amelia is a census-designated place and town in St. Mary Parish, Louisiana, United States. The population was 2,423 at the 2000 census. Geography Amelia is located at (29.673361, -91.103181)GR1. . In attendance were several local politicians, including Bill Cefalu, St. Mary Parish President; Representative Jack Smith, Louisiana District 50; Representative Carla Dartez, Louisiana District 51; State Senator Noun 1. state senator - a member of a state senate senator - a member of a senate D. A. "Butch" Gautreaux, Louisiana District 21; Dr. Tim Tregle, Mayor of Morgan City Morgan City, city (1990 pop. 14,531), St. Mary parish, S La., a fishing port on the Atchafalaya River (connected to the Intracoastal Waterway); inc. 1860 as Brasher, renamed 1876. The city is headquarters for offshore petroleum drilling and has oil and gas wells. ; and Emile Babin, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the St. Mary Parish Chamber of Commerce. Also in attendance were customers, suppliers, and employees of Conrad Industries, Inc. Kenneth G. "Jerry" Myers, Jr., Conrad's President and CEO, commented, "We are happy to christen chris·ten tr.v. chris·tened, chris·ten·ing, chris·tens 1. a. To baptize into a Christian church. b. To give a name to at baptism. 2. a. this new repair and conversion facility and are extremely excited about the strategic advantages that this facility provides Conrad. The Company has moved its two largest drydocks and plans to move two additional drydocks to the facility before the end of April 2003. The new facility allows the Company to handle deeper draft vessels than the Company has been able to service at its other facilities and therefore opens up a market niche from which the Company has historically been limited from participating." Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas. All statements in this press release other than statements of historical fact are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which are subject to a number of risks, uncertainties and assumptions. These include Conrad's reliance on cyclical industries Cyclical Industry A term describing an industry that is sensitive to the business cycle and price changes. Many cyclical industries produce durable goods such as raw materials and heavy equipment. , principal customers and government contracts, its ability to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... contracts on projects for which it has bid, and its ability to perform contracts at costs consistent with estimated costs used in bidding the contracts. Actual results may differ materially from those expected or projected. These and other risks are discussed in more detail in Conrad Industries, Inc.'s filings with the Securities and Exchange Commission. The Company undertakes no duty to update forward-looking statements.
Conrad Deepwater Facility Fact Sheet
-- 52 Acre Site
-- 1,100 Feet of Waterfront
-- 4 Drydocks:
-- (1) 10,000 Ton Drydock (140' between wing walls x 280' long)
-- (1) 3,000 Ton Drydock (84' between wing walls x 200' long)
-- (2) 2,400 Ton Drydocks (60' between wing walls x 200' long)
-- 230 Ton Crane
-- 115 Ton Crane
-- Conveniently Located Buildings
-- Customer Offices
-- Stockroom
-- Foremen Offices
-- Project Manager Offices
-- Dry Air Supply for Blasting and Painting
-- Waterfront Workstations for including:
-- Gas
-- Oxygen
-- Air
-- Potable Water
-- Sandblasting Sand
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