Todd Shipyards Corporation operates a shipyard in Seattle, Washington, through a wholly owned subsidiary, Todd Pacific Shipyards Corporation (Todd Pacific). Todd Pacific has been engaged in the repair/overhaul, conversion, and construction of commercial and military ships. A substantial amount of the Company’s business is repair and maintenance work on commercial and federal government vessels engaged in various maritime activities in the Pacific Northwest. It also provides construction and industrial fabrication services for a variety of customers. Its customers include the United States Navy (Navy), the United States Coast Guard (Coast Guard), Military Sealift Command, National Oceanic & Atmospheric Administration (NOAA), Washington State Ferries (WSF), the Alaska Marine Highway System, fishing fleets, cargo shippers, tug and barge operators, and cruise lines.