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.
Legislators from Connecticut and Massachusetts complained about the current “out-of-date allocation formula” in black sea bass, summer flounder and scup fisheries in a letter to the U.S. Department of Commerce earlier this week.Read more...
The Southeast Alaska Fishermen’s Alliance recently announced that the National Marine Sanctuary Foundation has awarded the organization a Hollings Grant to reduce whale entanglements in Alaska salmon fisheries by increasing the use of acoustic whale pingers to minimize entanglements in fishing gear.