Operating through its subsidiaries, Vigor Industrial builds and repairs ships and provides related vessel maintenance services including painting, blasting, and coating. The Oregon-based holding company also owns and manages the Portland shipyard (through its subsidiary Shipyard Commerce Center), and along with Oregon Iron Works, cofounded U.S. Barge, which builds ocean and inland barges. It provides on-site services for public and private customers along the West Coast and at its facilities in Oregon and Washington. Customers include cruise lines, ferry systems, and oil companies. Vigor's Nautical Miles unit acquired Washington-based Todd Shipyards (ship maintenance and repair) in early 2011 for $130 million.
In 2009, the company was awarded $1.6 million in federal stimulus money under the Maritime Administration's Small Shipyards Grant Program. The money will be used to improve existing facilities and provide workforce training. That same year, the company also won a $13.1 contract to upgrade a ship owned by the National Oceanic and Atmospheric Administration. The project is expected to end November 2010. Both are expected to help the company survive an overall slump in the economy. – less