Sponsored by Oregon Business

Deal Watch: Big NOAA contract boosts Vigor Marine

| Print |  Email
Wednesday, October 21, 2009
BY JON BELL

VigorMarine_DryDockAN AVERAGE SHIP repair job for Vigor Marine runs from four to six weeks. It's a fairly standard timeline, but one that also makes it pretty difficult for workers in such a wavy industry to ever enjoy a real sense of job security.

So it's no surprise that landing a year-long, $13.1 million contract from the National Oceanic and Atmospheric Administration is proving to be a big deal for the Portland company.

"In ship repair, long-term projects are unique," says Rene Doiron, vice president for ship repair at Vigor's parent company, Vigor Industrial. "This gives us some flexibility … and gives our workforce and management teams a better idea of what's coming up"

Awarded in September, the contract includes $7 million in stimulus funds and calls for structural repairs, system replacements and modifications to NOAA's 231-foot seafloor mapping vessel Rainier.

For Vigor, which is bidding on two other NOAA jobs this fall, the contract marks a continued focus on governmental work. Doiron says the global economic situation has weighed heavily on commercial customers, and some, like oil companies, have taken their business to China.

By simple proximity, Vigor may also see more business from NOAA when the agency moves its Pacific operations center to Newport in 2011.

Doiron estimates that Vigor's typical repair projects range in size from $100,000 to $20 million, with 75% of them — about 30 or so projects — topping the $1 million mark. Depending on when that work comes in, Vigor employs anywhere from 300 to 500 people.

The NOAA contract is not likely to result in any additional hiring for Vigor, but it will keep the numbers pretty steady over the next year.

"This is a project we need to have to keep our employees stably employed," Doiron says. " It's a blessing to be able to give our workforce a little peace of mind."

MERGERS AND ACQUISITIONS
PRICE EXP. CLOSE BUYER / PARENT (HQ) SELLER / PARENT (HQ) ANNOUNCED
$200,000 Q3 Schmitt Industries (Portland) Optical Dimensions (CA) 9/24
ND Q3 Argus Media (TX) Energy Market Report/Economic Insight (Portland) 9/28
ND Q3 Advantage IQ (WA) Ecos Consulting (Portland) 9/3
ND Q3 Sherman Bros Heavy Trucking (Harrisburg) Mike Warner Trucking (Vancouver) 9/2
ND Q3 Symbion Healthcare (TN) Gresham Station Surgery Center (Gresham) 9/24
ND Q3 TriQuint (Hillsboro) TriAccess Technologies (CA) 9/3
CAPITAL RAISING AND CONTRACTS
PRICE (TYPE) COMPANY (HQ) / LEADERSHIP INVESTOR (HQ) ANNOUNCED
$550M (wind farm grants) Iberdrola Renewables (Portland)/Ralph Currey U.S. Treasury 9/22
$377M (tractor contract) Daimler Trucks North America (Portland)/Chris Patterson U.S. Army 9/8
$20M (investment) Ensequence (Portland)/Peter Low Clay Mathile (OH) 9/18
$13M (ship restoration contract) Vigor Marine (Portland)/Frank Foti National Oceanic and Atmospheric Administration 9/22
$12M (pipe order) Northwest Pipe (Vancouver)/Brian Dunham Central Utah Water Conservancy District (UT) 9/15
$4.9M (surveillance system order) FLIR (Portland)/Earl Lewis Columbian Army and Air Force 9/2
$1.9M (fish passage improvements contract) Todd Construction (Tigard)/Brent Schafer U.S. Army Corps of Engineers 9/8
$1.5M (roadwork contract) Johnny Cat (Jacksonville)/John Holmes ODOT 9/22
$945,000 (office remodel contract) R.L. Reimers (Albany)/Ronald Reimers U.S. Dept. of Agriculture 9/10
$916,000 (private placement) Naturally Advanced Technologies (Portland)/Ken Barker ND 9/22
$600,000 (watermarking technology contract) Digimarc (Beaverton)/Bruce Davis CACI International (VA) 9/2
$449,000 (bunkhouse contract) RJ Armstrong & Associates Construction (Albany)/Robert Armstrong U.S. Dept. of Agriculture 9/19
$303,000 (paving contract) High Desert Aggregate and Paving (Redmond)/Michael Moore U.S. Dept. of Agriculture 9/11
$100,000 (efficiency and marketing grant) The Swanson Group (Glendale)/Steve Swanson U.S. Economic Development Administration 9/24
$15,000-$200,000 (wild horse-capturing contract) Horse Trappers (Mt. Vernon)/Delbert Osborne U.S. Dept. of Agriculture 9/21
ND (music center design project) Allied Works Architecture (Portland)/Brad Cloepfil Cantos Music Foundation (Canada) 9/25
REAL ESTATE TRANSACTIONS
PRICE BUYER / PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) ANNOUNCED
$192M Merlone Geier Partners (CA) Lloyd Center (Portland)/Glimcher Realty Trust (OH) 9/16
$2.2M Gheen Irrigation Works (Eugene) 14 acres commercial (Harrisburg)/Monaco Coach (Coburg) 9/11
$1.5M Oregon's Only Organics (Springfield) 20,000 sq. ft. warehouse (Springfield)/Howan (Eugene) 9/4
$1.35M City of Portland 10,000 sq. ft. industrial (Portland)/Harry G. Thompson Estate (Portland) 9/24
$825,000 Gorman Properties (Portland) 3,960 sq. ft. commercial (Portland)/John and Milyn Marthens (Portland) 9/22
$600,000 Zimmer Ventures (Portland) 5,200 sq. ft. industrial/Captain Gruber Enterprises (Portland) 9/17
$450,000 Industrial Finishes (Eugene) 3,640 sq. ft. industrial (Portland)/Gerald and Beverly Franzen (Portland) 9/17
NA Blackstone (NY) 148 properties (various)/Sunwest Management (Salem) 9/16
NA Uni-Chem (South Korea) 1.2 million sq. ft. plant (Eugene)/Hynix (South Korea) 9/26
 

More Articles

10 Oregon companies positioning themselves for growth

The Latest
Friday, March 13, 2015
vcthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Ten startups have secured venture capital, angel or seed funding in 2015.


Read more...

Courtside

April 2015
Thursday, March 26, 2015
BY JACOB PALMER

Enjoying a power lunch at Court Street Dairy Lunch in Salem.


Read more...

Imperial Palate

February 2015
Tuesday, January 27, 2015

Power Lunch at the Imperial.


Read more...

Opening soon: 3 of the coolest new breweries in Oregon

The Latest
Thursday, March 19, 2015
brewthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are 278 companies licensed to operate as brewery, according to the Oregon Liquor Control Commission. Here are three new beer-making hubs slated to open soon.


Read more...

The 100 Best Companies to Work For in Oregon

March 2015
Thursday, February 26, 2015
BY KIM MOORE | OB RESEARCH EDITOR

Employment in Oregon is almost back up to prerecession levels — and employers are having to work harder to entice talented staff to join their ranks. This year’s 100 Best Companies to Work For in Oregon project showcases the kind of quality workplaces that foster happy employees. 


Read more...

Meeting Facilities Perspective

March 2015
Tuesday, February 24, 2015
BY KIM MOORE | OB RESEARCH EDITOR

A conversation with Donna Earley, director of sales and marketing for the Salem Convention Center.


Read more...

6 chiefs of staff dish on their bosses

The Latest
Thursday, February 05, 2015
legilistiblog-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

We ask chiefs of staff for the scoop on Oregon legislators.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS