EVERETT — Everett Shipyard, which has built a strong business in maintaining existing state ferries, has been purchased by Todd Shipyards Corp. for an undisclosed sum.
Todd, the state’s major shipbuilder, has purchased the Everett company’s assets and will keep former state representative Kevin Quigley as president.
“I’m ecstatic,” Quigley said of the purchase.
He said the companies will continue to be separate, competing entities, but that he expects the deal will expand the opportunities available for Everett Shipyard.
For example, he noted that Todd Pacific Shipyards in Seattle has the contract to maintain ships at Naval Station Everett and that Everett Shipyard is in a better position now to bid for some of that work.
During the past five years, Everett Shipyard has won a long string of contracts to do work on state ferries. That work has totaled $47 million, nearly twice the amount won by Todd. Quigley said he recently won the bid for some work on the state ferry Hyak and expects the boat to arrive soon in Everett.
Everett Shipyard recently moved to a new location at the Port of Everett with several acres of land and deepwater port access. It also recently purchased a 1,000-ton dry dock.
The deepwater approach, new facilities and new owner provide many new opportunities for the company, said Quigley, who noted he wants to pursue more work on new ferries for the state.
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