Manitowoc Awarded Coast Guard Contract
The Manitowoc Company (NYSE: MTW) today announced that, as prime contractor and program manager, it has been awarded a multi-year contract by the U.S. Coast Guard for the construction and delivery of up to 250 Response Boat-Medium (RB-M) vessels for a total contract value of up to $600 million.
Manitowoc will share the contract equally with its RB-M team partner, Kvichak Marine Industries of Seattle. Deliveries are scheduled to begin in the first half of 2008. The final design incorporates a 45-foot, self- righting aluminum hull propelled by twin water jets. The RB-M’s diesel engines total 1,650 horsepower and provide a top speed in excess of 42 knots. The winning prototype utilized a design from Camarc, Ltd. and was constructed by Kvichak. Both Kvichak and Camarc have long experience in jet-driven, high- speed aluminum boats.