Page 12: of Maritime Reporter Magazine (July 15, 1974)

Todd Backlog Largest

In Peacetime History

J.T. Gilbride, president of Todd

Shipyards Corporation, was opti- mistic in addressing' stockholders at the recent annual meeting held at One Chase Manhattan Plaza in

New York City. He stated that the company now has the largest backlog in its peacetime history, and that it expects to .resume payment of a moderate dividend before the end of the fiscal year.

Mr. Gilbride pointed out that a considerable part of the back- log, now approaching the half- billion-dollar mark, consisted of contracts for the construction of 89,700-dwt tankers. He added that the dividend action was pos- sible despite the uncertainty of the economy, and the necessary millions that must be spent to en- large company facilities to build the new tankers.

Mr. Gilbride expressed his op- timism about the prospects for future orders, basing his atti- tude on two specific favorable omens for American shipbuilding: (1) the pending legislation of the

Energy Transportation Security

Act of 1974, which would reserve a specified percentage of United

States oil imports for transport by U.S.-flag tankers, and (2) the prospect for continuation of the requirement by Congress that 30

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Phone: 212/944-4222 percent of Naval ship repair work be allocated to private rather than Naval shipyards. 14

John T. Gilbride

The Honorable Robert C. Hill,

Ambassador to Argentina, re- joined the board after an-absence of one year. Because of the pos- sible conflict of interest, the Am- bassador withdrew from the elec- tion last year while serving as

Assistant Secretary of Defense.

J.T. Gilbride, John D. ReiUy Jr., and William B. Rand were re- elected to the board.

Lister Diesel Division

Of Hawker Siddeley

Acquires Witte Engine

Hawker Siddeley Inc., which acts as United States marketing organization for RJV.. Lister and

Company Ltd., Dursley, Glouces- tershire, England, has increased the scope of its Lister Division by the acquisition of the Witte

Engine Corporation of Olathe,

Kan. Witte is a long-established manufacturer of natural gas and diesel engines.

Lister, with its worldwide mar- keting organization, intends to increase the sale and production of Witte gas and diesel engines, particularly in those markets where a demand exists for en- gines capable of running on na- tural gas.

The Witte natural gas engine complements the well-known range of Lister diesel engines from 3 to 170 hp, and the Witte organization of Olathe will play its full part in developing the production and sales of Lister engines in the U.S. market.

John Smidl will continue as president of the Witte Engine

Corporation. B.D. Fish, president of Hawker Siddeley Inc., andl E J.

Cove, commercial director of R.A.

Lister and Company Ltd. in Eng- land, will join the board of Witte

Engine Corporation. The Lister

Division of Hawker Siddeley Inc., under its vice president George

Clarke, will be responsible for

Witte engine sales in the United

States.

Maritime Reporter/Engineering News