Contact: Peter Boylan/Lori Hamamoto 202-224-3934

HAWAII COMPANIES TO RECEIVE MORE THAN $5 MILLION FOR SMALL SHIPYARD IMPROVEMENTS

August 18, 2009

FOR IMMEDIATE RELEASE

WASHINGTON-Hawaii companies will receive more than $5 million for small shipyard repairs and renovations, U.S. Senator Daniel K. Inouye announced today.

Three companies, Navatek LTD, P&R Water Taxi, and Pacific Shipyards International LLC were awarded $5,743,741 in grants through the U.S. Department of Transportation’s Maritime Administration’s Small Shipyards Grant Program.

“Our ports and shipping industry are yet another vital sector of our local economy hit hard by the current recession,” said Senator Inouye.  “These grants will fund critical improvements and help these companies retain workers and grow business.”

Pacific Shipyards International received $3,964,362 to purchase a water jet cutting system, plate and angle rollers and a new shear. 

The company employs more than 100 production staff who specialize in ship repair and conversion.

“It’s definitely a jobs preserver. This federal stimulus money comes at a critical time for us. As work dries up during the recession, we can still keep our workers employed, putting them to work modernizing our shipyard and training them on the new equipment,” said Steven Loui, company president.

Also receiving grants:

Navatek LTD. received $902,634 to build a moveable fabrication bay and purchase a new router for ship activity.

P&R Water Taxi LLC. received $876,745 to purchase a 110 ton crane.

All business are headquartered either in Honolulu Harbor or Kewalo Basin.

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