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

Marijuana law ushers in new business age

The Latest
Tuesday, June 23, 2015
062315panelthumbBY KIM MOORE | RESEARCH EDITOR

Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.


Read more...

Department of Self-Promotion

Linda Baker
Tuesday, August 04, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

Reader Input: Rx for Health Care

July/August 2015
Wednesday, July 15, 2015

We asked readers how Obamacare has impacted their business.


Read more...

Photo Log: Shooting 10 innovators in rural health care

The Latest
Monday, August 03, 2015
007blogBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

You may have noticed the photos of our rural health innovators departed from the typical Oregon Business aesthetic.


Read more...

Photo Log: Waterfront Blues Festival

The Latest
Thursday, July 09, 2015
bluesfestthumbBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

The sweltering weather didn't keep the crowds away. Although the numbers were down slightly from last year, the Oregon Food Bank raised $850,636 to fight hunger.  About 80,000 people attended despite temperatures in the upper 90s.


Read more...

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


Read more...

Urban renewer

Linda Baker
Wednesday, June 24, 2015
UnknownBY LINDA BAKER   

One year after he was appointed chair of the Portland Development Commission, Tom Kelly talks about PDC's longevity, Neil Kelly's comeback and his new role as Portlandia's landlord.


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