Printer Friendly

AVONDALE INDUSTRIES, INC. SHIPYARDS DIVISION AWARDED $262 MILLION CONTRACT

 NEW ORLEANS, Sept. 2 /PRNewswire/ -- Avondale Industries, Inc. (NASDAQ-NMS: AVDL) announced that it was awarded a $262 million contract for construction of one Strategic Sealift Ship with options for five additional ships.
 The total value of the six ship contract will be in excess of $3.1 billion. The vessel will be approximately 950 feet long with a 106- foot beam. These Sealift vessels are Roll-On/Roll-Off type ships which are designed to quickly carry tanks and other military vehicles to any area of potential conflict. The first ship is scheduled for delivery in 1997 while the sixth vessel is scheduled to deliver in 2001. The program is anticipated to require employment of approximately 3,000 Avondale employees at peak production.
 Albert L. Bossier Jr., Avondale's chairman, president and chief executive officer, said: "With the award of the Sealift contract, we now expect to be able to stabilize the size of our work force through the year 1997. This contract will position Avondale as a leader in the construction of sealift and amphibious vessels for the U.S. Navy and enable the company to capitalize on commercial opportunities. The recent performance of Avondale's experienced work force positioned us to be selected as the successful shipbuilder for this important program."
 Avondale was notified of the award by U.S. Sen. J. Bennett Johnson (D-La.), U.S. Rep. Bob Livington (R-La.) and U.S. Rep. William Jefferson (D-La.), who noted that the award represents a tremendous economic impact for the state of Louisiana.
 Avondale Industries, Inc., headquartered in metro New Orleans, is one of the nation's leading marine fabricators. In addition to its shipbuilding operations, the company specializes in boat construction and is a major repair contractor for commercial and Navy ships. It is also involved in the modular construction of plants and components for a variety of land-based industries.
 -0- 9/2/93
 /CONTACT: Thomas M. Kitchen, 504-436-5237, or Bruce L. Hicks, 504-436-5238, both of Avondale Industries/
 (AVDL) CO: Avondale Industries, Inc. ST: Louisiana IN: MAR SU: CON


BN-RA -- AT017 -- 8622 09/02/93 17:53 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 2, 1993
Words:346
Previous Article:THE BANKER'S NOTE REPORTS RESULTS
Next Article:WHEELABRATOR TECHNOLOGIES INC. ACQUIRES HPD INC., EXPANDING WATER TREATMENT CAPABILITIES
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters