NEWS
SILVER SHIPS BUILDS IN NEW SPACE AND WITH NEW EMPLOYEES Silver Ships often sails under the radar when it comes to the area’s boat builders. The Mobile-headquartered company has made some significant additions over the past few years, including an engineering department and a new storage facility that freed up 9,600 square feet of manufacturing space. It also won several major contracts and hired additional employees. The largest contract comes from the company’s three-decade relationship with various U.S. military divisions. In 2019, the U.S. Navy awarded the aluminum boat builder an $11 million contract for up to 160 high-speed maneuverable surface targets (HSMST), including the accessories and deployment spare parts needed for the vessels. With options, the contract has the potential to increase to $19.7 million. The HSMST is a remotely operated vessel used for target practice by naval or air forces. Steven Clarke, owner and chief financial officer, said, “While federal contracts used to represent 80-90 percent of our business, it now is down to 50-60 percent thanks to efforts to diversify and produce workboats for other marine sectors.”
Over the past year, the company has also built and delivered six fire rescue boats, designed to accommodate each department’s systems and rescue missions to customers in Arizona, Florida, Louisiana, Maryland, Missouri and Texas.
BUSINESS VIEW
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