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Balancing Act: No Problem for Vigor Construction funds linked to government work are about as placid and dependable as the Bering Sea. Says Foti. ?At best, the government is looking at reductions in defense spending. At worst, we?ll keep seeing made-up crises like se- questration and unpredictable government shutdowns. The shipbuilding and repair industry is a $20 billion industry. About 60 percent of that is government work, with the bal- ance being commercial shipbuilding and repair.? To counteract the uncertainties, Vigor is working to acquire non-shipbuilding business. Its website says, ?Vig- or companies can fabricate just about any steel structure regardless of shape, size or complexity.? Vigor fashioned eight 25-metric ton bridge bracing cubes for the Portland- Milwaukie Light Rail Bridge on the Willamette River. It is producing 153-foot-long wave buoy platforms to capture renewable energy from ocean waves. Vigor constructs preci- sion metal platforms to turn methane gas from land ll gar- bage into electricity in South America and other locations. Sheer size helps even out workloads and use of skilled workers. Keeping people employed is ?more than just a feel-good issue for us,? says spokesperson Brian Mannion, ?It?s a competitiveness issue.? Vigor must retain the best people by keeping a steady ow of work. As MarineNews went to press, Vigor was about to take possession of the largest oating dry-dock in the United States. At 960 feet long, 300 feet longer and one-and-a- half times wider than anything Vigor already has, it will be large enough to service Military Sealift Command dry cargo/ammunition ships and private vessels including post-Panamax cargo ships and cruise ships. The increased capacity will also help Vigor meet growing demand from the Arctic as oil and gas exploration and other ship opera- tors take advantage of longer ice-free summers. Frank Foti says, ?It?s more than an investment. It?s a symbol of the resurgence of the industry. Back in 2000, we sold off a nearly identical dry-dock to stabilize the busi- ness. At that time, the shipyard only had a few hundred people working and a lot of debt. When that dry-dock left, a lot of people predicted it would be the end of the ship- yard in Portland. Today, we have 700 people working at the yard and a growing business strong enough to buy the largest dry-dock in the country and put it to good use.? In today?s robust boatbuilding environment, then, Vigor has indeed ?Gone Big.? www.marinelink.com MN April14 Layout 32-49.indd 47MN April14 Layout 32-49.indd 473/20/2014 11:55:06 AM3/20/2014 11:55:06 AM
