Written by Jen Finn
Oregon Iron Works and Vigor Industrial announced the companies are merging to unite their strengths in advanced manufacturing, shipbuilding and ship repair. Under the terms of the merger, Oregon Iron Works will become a wholly owned subsidiary of Vigor Industrial.
Oregon Iron Works' fabrication abilities combined with Vigor's shipbuilding, heavy lifting and marine launch capabilities will allow the company to complete large-scale, complex projects that neither company could do alone.
The combined company will employ about 2,300 people in Alaska, Oregon and Washington. The companies agreed to terms on May 20, and expect the merger to be finalized before the end of June.
"This combination positions the company to meet upcoming demand from various industrial and marine sectors," said Vigor CEO and Owner Frank Foti. "Not only will diversification allow us to better weather the ups and downs of the marine industry, incorporating good fabrication genetics from non-marine sectors is great way to achieve world-class shipbuilding standards in the U.S."
"It's Industrial Evolution, and it's what our economy needs," Foti said. "We're doing everything we can to build and sustain family-wage industrial jobs.
NMFS has awarded 16 grants totaling more than $2.5 million as part of its Bycatch Reduction Engineering Program.
The program supports the development of technological solutions and changes in fishing practices designed to minimize bycatch and aims to to find creative approaches and strategies for reducing bycatch, seabird interactions, and post-release mortality in federally managed fisheries.Read more...
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