NORFOLK, Va., April 23, 2020 /PRNewswire/ -- Colonna's Shipyard, Inc. is proud to be selected to receive a grant from the U.S. Department of Transportation's Maritime Administration (MARAD) Small Shipyard Grant Program. One of just 24 shipyard selected nationally, Colonna's has been awarded $799,996 to invest in upgrading welding equipment to improve overall shipyard productivity. "We are honored to have been selected to receive the Small Shipyard Grant and we will be investing immediately in new equipment to allow our employees to be more productive in their work supporting our government and maritime transportation customers. Despite current challenges all businesses are facing with the pandemic, I am very proud of our employees as Colonna's remains operational in support of the Defense Industrial Base. We applaud MARAD for their ongoing support of the important work being done by America's shipyards, especially now," said Colonna's President & CEO, Tom Godfrey.
Marad's Small Shipyard Grant Program gives funds that assist shipyards who are eligible to modernize, increase efficiency, and take advantage of added productivity by being able to invest in emerging technological advancements and a more highly qualified and skillful workforce. These projects under the program include capital and other related aspects that add and foster greater efficiency, more competitive operations, and increased quality ship construction, repair, and reconfiguration. Additionally, this program funds training projects that encourage improved employee skills and enhance further productivity.
Founded in and family owned since 1875, Colonna's is a diversified industrial company with unique capabilities in ship repair, marine and industrial machining and steel fabrication. Please visit our website at www.colonnaship.com
SOURCE Colonna’s Shipyard, Inc.