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: 12/16/14
In this episode, Bruce Buls, WorkBoat's technical editor, interviews Long Island lobsterman John Aldridge, who survived for 12 hours after falling overboard in the dead of night. Aldridge was the keynote speaker at the 2014 Pacific Marine Expo, which took place Nov. 19-21 in Seattle.
NOAA, in consultation with the Department of the Interior, has appointed 10 new members to the Marine Protected Areas Federal Advisory Committee. The 20-member committee is composed of individuals with diverse backgrounds and experience who advise the departments of commerce and the interior on ways to strengthen and connect the nation's MPA programs. The new members join the 10 continuing members appointed in 2012.