VT Halter Marine Wins Ferry Contract

Thursday, May 15, 2003
VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., announced today that it was selected by the Puerto Rico Port Authority (PRPA) to design and build a $2.8 million sea-going passenger ferry. The 95-ft., all-aluminum vessel, with a 24-ft. beam, and five foot, six-inch draft will be U.S. Coast Guard classed sub-chapter “K” and U.S. flagged. The U.S. Department of Transportation Federal Transit Administration will provide financial aid to the Puerto Rico Highway and Transportation Authority. Construction will take place at VT Halter Marine’s Pascagoula Operation located in Pascagoula, Mississippi. Delivery of the ferry is expected to be in the second quarter of 2004. The inter-island transportation ferry will operate and service the Fajardo-Vieques-Culebra Ferry Line. VT Halter Marine's CEO, Boyd E. (Butch) King said, “We are pleased that the Puerto Rico Port Authority has selected VT Halter Marine for this project and believe that it will prove to be a mutually beneficial partnership. VT Halter Marine is particularly qualified to design and build this type of shallow draft, sea-going vessel. This project is in line with our strategy of pursuing multi-market sectors that accommodate our plans to “grow” the business. ” Gen. (Ret.) John G. Coburn, Chairman and CEO of Virginia-based Vision Technologies Systems said, “This ferry construction is another example of our workforce’s ability to fulfill the design and technological requirements of our customers. This project is indicative of VT Halter Marine’s success in maintaining its reputation in the commercial and defense industries as a premier ship builder."

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