Conrad Industries Announces Award of Ferry Contract

Wednesday, September 19, 2007
Morgan City, La.-based Conrad Industries Inc., announced it has been awarded a contract to build a ferry for the State of Texas and numerous other contracts totaling $36.6 million. The Texas Department of Transportation awarded Conrad the contract for a 264-foot-long passenger/vehicle ferry for the Galveston, Texas, terminal. The $22.5 million vessel is scheduled for delivery in 2009. Conrad also announced it will build 11 120-foot deck barges, three spud barges and two crane barges for four different customers. In addition, Conrad will conduct drydock inspection and general repairs to the M/V Culebra II, a 500-passenger aluminum-hull vessel operated by the Puerto Rico and Municipal Islands Maritime Transportation Authority. “All of the contracts added will be performed at our Morgan City and Amelia-Aluminum facilities,” said Johnny Conrad, the company’s president and chief executive. “We are very excited to receive the award of the Texas ferry, particularly since our company has built three other ferries in the past. We are also pleased to continue to add barge contracts from repeat customers as well as new customers.” Conrad’s current backlog is about $103 million, which is a record for the company. Johnny Conrad said the company delivered 25 jobs in the second quarter of 2007 and foresees a brisk business climate ahead. “Bid activity continues strong and we see excellent business opportunities in both blue water and brown water markets and in both new construction and repairs,” Conrad said.

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