Deal Watch: Big NOAA contract boosts Vigor Marine

| Print |  Email
Archives - November 2009
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

Behind the curtain: What students should know about accreditation and rankings

Contributed Blogs
Thursday, December 04, 2014
120414-edurating-thumbBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

How important are institutional and/or program evaluations provided by third parties in selecting a college or university program?


Read more...

Tackling the CEO-worker pay gap

January-Powerbook 2015
Thursday, December 11, 2014
BY OREGON BUSINESS STAFF

An SEC rule targets the disparity between executive and employee compensation, reigniting a long-standing debate about corporate social responsibility.


Read more...

The short list: 4 companies engaged in a battle of the paddles

The Latest
Thursday, December 04, 2014
pingpongthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Nothing says startup culture like a ping pong table in the office, lounge or lobby.


Read more...

Corner Office: Pam Edstrom

January-Powerbook 2015
Saturday, December 13, 2014

Seven tidbits of information from an agency partner and co-founder of Waggener Edstrom in Lake Oswego.


Read more...

Streetfight

News
Sunday, December 07, 2014
BY LINDA BAKER

On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.


Read more...

Editor's Letter: Power Play

January-Powerbook 2015
Thursday, December 11, 2014

There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:

Old power works like a currency. It is held by few. Once gained, it is jealously guarded, and the powerful have a substantial store of it to spend. It is closed, inaccessible, and leader-driven. It downloads, and it captures.

New power operates differently, like a current. It is made by many. It is open, participatory, and peer-driven. It uploads, and it distributes. Like water or electricity, it’s most forceful when it surges. The goal with new power is not to hoard it but to channel it.

The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace. 

Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.

This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay. 

Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.

New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”

That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!

— Linda


Read more...

Growing a mobility cluster

News
Friday, October 31, 2014
0414 bikes bd2f6052BY LINDA BAKER | OB EDITOR

Why are there so few transportation startups in Portland?  The city’s leadership in bike, transit and pedestrian transportation has been well-documented.  But that was then — when government and nonprofits paved the way for a new, less auto centric way of life.


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