National Fisherman


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.

Inside the Industry

The New England Fishery Management Council recently elected Dr. John F. Quinn of Massachusetts and E. F. “Terry” Stockwell III of Maine to serve respectively as chairman and vice chairman in the year ahead. The two have led the Council since 2014 but reversed roles this year. 

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Vigor will debut an affordable 142-foot freezer longliner designed specifically for North Pacific fishing at the 2016 Pacific Marine Expo in Seattle.

 

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