Corps Awards Contract for New Hopper Dredge

The Corps of Engineers has awarded Conrad Industries Inc. (OTC Pink Sheets: CNRD.PK) a contract to design and build a shallow draft hopper dredge.

The $13.1 million contract is for a 156-foot self-propelled shallow draft split hull hopper dredge for the Wilmington District to work in coastal inlets from Florida to Maine.

The dredge will be built in the Conrad Industries shipyard in Morgan City Louisiana with delivery planned for the second quarter of 2011.