The following is the text of a press release issued by Conrad Industries Inc.:
(MORGAN CITY, La.) — Conrad Industries, Inc. (Pink Sheets: CNRD) announced today the signing of new contracts, bringing current backlog to approximately $86.0 million compared $41.0 million at June 30, 2010, $38.3 million at December 31, 2009 and $56.1 million at September 30, 2009. New contracts include three 150’x 50’x 8′ heavy load capacity equipment hauling barges for the U.S. Army Corps of Engineers.
In addition, the North Carolina Department of Transportation awarded a contract to Conrad for the construction of a 220-foot passenger and vehicle ferry for servicing the Pamlico Sound routes between Cedar Island and Ocracoke, and Ocracoke and Swan Quarter. The vessel is capable of transporting 300 passengers and 50 vehicles, and is similar to the vessel currently under construction at our shipyard in Orange, TX.
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.
