Printer Friendly

AVONDALE INDUSTRIES SHIPYARDS DIVISION AWARDED $257.5 MILLION NAVY CONTRACT

 NEW ORLEANS, Oct. 12 /PRNewswire/ -- Avondale Industries, Inc. (NASDAQ-NMS: AVDL) today announced that it has been awarded a contract to build one Landing Ship Dock (LSD) cargo variant vessel at a price of $257.5 million for the U.S. Navy.
 After consideration of certain additional components and cost escalation, the contract is expected to total more than $275.0 million. The award of this contract to Avondale brings the total number of LSD-CV ships under construction to four.
 Avondale was informed of the award by Congressman Bob Livingston, Sen. J. Bennett Johnston and Congressman Bill Jefferson, each of whom has actively pursued economic development and new jobs for metropolitan New Orleans.
 The cargo variant vessels will carry fewer air cushion landing crafts (LCAC's) and more cargo than the original LSD's, five of which were constructed and delivered to the Navy by Avondale. The contract will require approximately 900 Avondale workers at its peak. Delivery is scheduled for the beginning of 1998.
 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- 10/12/93
 /CONTACT: Thomas M. Kitchen of Avondale Industries, 504-436-5237/
 (AVDL)


CO: Avondale Industries, Inc.; U.S. Navy ST: Louisiana IN: SU: CON

BR-RA -- AT018 -- 1357 10/12/93 17:58 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:Oct 12, 1993
Words:253
Previous Article:FNB FINANCIAL CORPORATION TO MERGE WITH FIRST VIRGINIA BANKS
Next Article:SCHOOL LUNCH PROGRAM RELIES ON PROCESSED FOODS, SAYS INDUSTRY
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters