January 12, 2005

Bollinger Gulf Repair adds dry dock

Louisiana Governor Kathleen Babineaux Blanco yesterday dedicated a new dry dock at Bollinger Gulf Repair that will service new shipbuilding and repair projects along the Industrial Canal in New Orleans East and contribute to hundreds of new shipbuilding jobs across the state.

Bollinger will use the dry dock for vessel repair, maintenance and conversion. The dock arrived at Bollinger Gulf Repair December 30. It has a capacity of 10,600 tons and measures more than 351 feet long and 136 feet wide. The wingwall height of the dry dock above the pontoon deck is 32-ft 1-in. The distance between wingwalls is 116-ft 2-in.

The dry dock represents the completion of the first phase of a two-phased cooperative endeavor agreement between the state and Lockport, La.-based Bollinger Shipyards, Inc., the largest vessel repair company in the Gulf of Mexico region.

For the first phase, the state invested $10 million to construct the dry dock. Bollinger has committed to adding 500 new jobs related to shipbuilding and repair at their yards in New Orleans and throughout Louisiana in 2005. The company is currently hiring at two New Orleans-area facilities.

Speaking to Bollinger Gulf Repair employees and New Orleans area officials, Governor Blanco pointed to the far-reaching impact and importance of the shipbuilding and repair industry in Louisiana.

"I am committed to keeping Louisiana the leader in shipbuilding and repair on the Gulf Coast. One way to do this is to seek outpartnerships like this one with Bollinger Shipyards," said Governor Blanco. "More than 25 percent of the nation's shipbuilding and repair takes place at nearly 160 shipyards located along the banks of Louisiana waterways. This industry employs thousands of Louisianans today. With this agreement, Bollinger and the state will create hundreds of quality jobs for skilled Louisiana workers."

"We are a Louisiana-born and a Louisiana-grown business. The state demonstrated its commitment by investing in this and other important expansion projects aimed directly at bringing more shipbuilding and repair business here. We are ready to hire skilled workers right now and are enthusiastic about our growth opportunities in Louisiana in the coming months," said Donald T. "Boysie" Bollinger, chairman of the board and chief executive officer of Bollinger Shipyards, Inc.

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