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.
National Fisherman Live: 2/26/15
In this episode, National Fisherman's Online Editor Leslie Taylor speaks with Rick Constantine, vice president of marketing, Acme United Corporation, about Cuda corrosion resistant knives.
National Fisherman Live: 2/24/15
In this episode:
March date set for disaster aid dispersal
Oregon LNG project could disrupt fishing
NOAA tweaks gear marking requirement
N.C. launches first commercial/recreational dock
Spiny lobster traps limits not well received
Today Sen. Lisa Murkowski (R-AK) introduced legislation to extend a permanent exemption for incidental runoff from small commercial fishing boats.
The National Working Waterfront Network is now accepting abstracts and session proposals for the next National Working Waterfronts & Waterways Symposium, taking place Nov. 16-19 in Tampa, Fla. The deadline is Tax Day, April 15.Read more...