Vigor buys Todd Shipyards

The deal has been approved by Todd’s board but depends on satisfaction of the minimum tender condition of 67% of Todd’s shares. “The combination of Vigor and Todd will create the largest and most capable marine services company in the Pacific Northwest,” said Frank Foti, president of Vigor. “The 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.” Todd’s management will remain intact and all contracts will remain in place.

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.

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.