Conrad Industries New Contract Award

Sunday, September 20, 2009

Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced that it has been awarded a contract for the construction of a shallow draft dredge with a value of $13.1m.

The United States Army Corps of Engineers awarded the contract to Conrad for the design and construction of a 156-ft self-propelled, shallow draft, split hull hopper dredge for the Wilmington District. The dredge will operate year round in coastal inlets from Florida to Maine. The vessel will be built at our shipyard in Morgan City, La.
Johnny Conrad, President and CEO stated, “We have enjoyed a very good working relationship with the Corps which began in 1994. Since that time we’ve completed fourteen projects including towboats, fuel barges and crane barges. Production of the new vessel is scheduled to begin in April 2010 with delivery during the second quarter of 2011. Our Morgan City facility also constructed and delivered to the Corps a 255’ crane barge in 2006 and a 144’ steel towboat in 2007, and currently has a 260’ crane barge in progress.”

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