Wednesday, November 18, 2009

Erie Shipbuilding News

Today's Erie Times News is reporting that the Erie County Redevelopment Authority sued Erie Shipbuilding for almost $100,000 worth of an unpaid loan and interest.

The same article, meanwhile, reports that the Erie Western-Pennsylvania Port Authority is negotiating a lease for the shipyard with a new consortium of companies that includes Erie Shipbuilding, New York-based SMH Capital (an investment firm) and New Jersey's Donjon Marine, a former customer of Erie Shipbuilding's whose orders include the WITTE 4003 and several deck barges. The company negotiating the lease is known as Newco, which is not the name it will operate under; Newco is also the name under which Erie Shipbuilding first negotiated its lease with the Port Authority in October 2005.

Time will tell what the future holds for Erie Shipbuilding, however, one thing is certain: anything that brings more jobs and work to the facility will be better than what is occuring at the yard now - virtually nothing.

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