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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.

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