foti

- Vigor: Frank(ly) Speaking Maritime Reporter, Aug 2014 #94
Frank Foti of Vigor Industrial has steadily embarked on a consolidation of the Pacific Northwest ship construction and repair industry. Starting in Portland in 1995 with about 50 employees, the ubiquitous owner of Vigor has built his business today to more than 2,000 employees in an ever-widening industrial group. During a recent visit to Seattle, he shared insights on his company and the market.

“Vigor is a diversified marine and industrial fabricator and it is a ship repair specialist,” is how Frank Foti, the owner of Vigor Industrial for nearly 20 years, concisely describes his company. “You’re in a shipyard (Vigor Seattle) where there’s a Navy destroyer, a shipyard that is building and repairing barges; and a shipyard that is building and repairing ferries.”
The story of Vigor’s rapid ascension as a driving force in the Pacific Northwest ship construction and repair market is an intriguing one, and one fairly well recorded as Foti has an obvious ease with the media. But the story of Vigor almost never was, as early in his life Foti was embarked on a career in the telecommunications industry. But then his father, who owned a small construction company in Cleveland, became terminally ill and his dying wish was that Foti would come in to run the family business, which Foti reluctantly agreed.
“I was a typical high school kid who grew up one way, his father grew up another way,” said Foti. “I used to turn my nose down to people who got dirty for a living, then I fell in love with people who get dirty for a living when I realized that there was more honesty, more truth out on a scaffolding than there was in the offices that I had spent time in. So my career took a turn where I became a business owner for industrial work. I didn’t know it was going to go there.”
Spend five minutes with Foti and it is apparent he’s not remiss to share his opinion. And while he talks straight and fast, it becomes instantaneously clear that it is not about him. In fact, far from it.
“You see in my office that I don’t have a single picture of a ship; only people,” said Foti. And he’s right, as the office walls are filled with dozens of photos of Vigor workers, past and present, a daily reminder to Foti of what his business is about.
But while he acknowledges the value of the people under his employ, from the start he knew it was his job to build a company beyond the Portland shipyard, a company of sufficient geographic and capability depth and breadth to supply ample opportunity to attract and retain the best people.
“Portland is a destination resort for repair and fabrication, but it has no local market,” said Foti. “Once we shrunk (after he took over the shipyard in 1995, just as the U.S. Navy was transitioning from the 600-ship to the 300-ship navy) and figured out a way to survive on what our facility could offer, the only way for us to generate stable revenue was to go to where the work was; expansion was required.”
And expand he did, with acquisitions as far north as Alaska and most recently the acquisition of Oregon Iron Works, a strategic buy which will launch Vigor into fabrication for industries outside of maritime. In total Vigor owns eight facilities, with all major facilities offering a mix of new construction and repair (except for the new Oregon facility, which is strictly fabrication).
Vigor has been a driver for consolidation of maritime assets in the Pacific Northwest, helping to spearhead what some term a resurgence of maritime activity in the region. “Our consolidation was so that we could attain critical mass so that we could be a large enough company to effectively train, bring in good leaders, provide continuous employment,” Foti said. “That necessity is mother of much creativity.”
“Resurgence is an interesting word, because in a sense consolidation has helped to create the resurgence,” said Foti. “The industry shrank, and now I think you see healthier companies that are poised for growth. There are some solid companies that have always been solid. You have a really great shipyard out here in Dakota Creek that has a reputation well past the Northwest. You have a builder of small boats for the Coast Guard and other commercial owners called Kvichak Marine. These are strong builders that have their own profile outside of the Northwest.”
While Vigor’s Navy work has dwindled, it keeps busy with a mix of commercial and government work (Military Sealift Command); a mix of new construction and repair. “Some level of consolidation combined with a readying for potential work in the Beaufort and Chukchi Sea with Alaska O&G exploration, and I think you’ll see continued resurgence around the construction of fisher/processor boats for the Alaskan fishing trade,” said Foti.

The New Floating Drydock
Early in 2013 Vigor Industrial reached an agreement with Daoda Marine Heavy Industry Company (DDHI) to purchase a new floating drydock for $40 million. At 960 ft. long, with an inside width of 186 ft. and a lifting capacity of 80,000 long tons, it is touted to be the largest floating drydock in the United States.
While the drydock hit some delays (when originally announced the anticipated delivery was March 2014, but it will arrive on the West Coast later this month) when it does arrive there is business lined up and waiting.
The new drydock, set to be stationed in Portland, will be 300 feet longer than the largest drydock Vigor currently owns, and it will allow Vigor to service the incoming generation of the U.S. Navy’s Military Sealift Command (MSC) dry cargo/ammunition ships, which are replacing some smaller MSC ammunition, combat stores and fuel ships. The drydock will be large enough to service private vessels including post-Panamax cargo ships and cruise ships. The increased capacity will also help Vigor meet growing demand from the Arctic as oil and gas exploration and other ship operators take advantage of longer ice-free summers.

(As published in the August 2014 edition of Maritime Reporter & Engineering News - http://magazines.marinelink.com/Magazines/MaritimeReporter)
- Interview: Frank Foti - President & CEO, Vigor Industrial Marine News, Apr 2016 #12
Insights: Frank Foti - President and CEO, Vigor Industrial LLC For nearly two decades, Frank Foti has led Vigor’s transformation from a single, struggling shipyard to a thriving, increasingly diversified industrial company with 2,500 employees, 12 locations and approximately $700 million in annual revenue.
- Shipbuilding: Vigor Industrial Grows Stronger Marine News, Apr 2014 #42
big and builds big. The company’s new floating dry dock will be the largest in the United States. And Vigor wants to get even bigger. CEO and owner Frank Foti expresses an ambition to grow to twice the current size in the “next few years.” Foti, who is also chairman of the Shipbuilder’s Council of America
- Back to School Maritime Reporter, Sep 2013 #48
problem was set to get worse. Vigor’s ability to meet expected demand hinged on a labor force that didn’t appear to exist. Workforce Development Frank Foti, Vigor’s CEO, isn’t one to sit around and wait for problems to self-resolve. He decided the best way to find a skilled available workforce was to train
- Proceeding Quietly with Vigor Marine News, Mar 2013 #54
offerings when it scooped up Alaska Ship and Drydock in Ketchikan after raising $75 million through private equity firm Endeavour Capital. Vigor CEO Frank Foti continues to build scale through acquisitions, while diversifying the company’s construction and repair capabilities to include cargo fleets, barges
- Editorial: software ... is it ‘evolution’ or ‘revolution’ ... Maritime Reporter, Aug 2014 #6
sector continues to gain steam, powered by transport needs in the vibrant energy sector, I had the opportunity to visit with Vigor Industrial owner Frank Foti in his shipyard in Seattle last month. In my 20+ years at the helm of Maritime Reporter, I have been privileged to meet and interview hundreds of CEOs
- MN 100: Vigor Industrial Marine News, Aug 2014 #68
Avenue Portland, OR 97217 Tel: (503) 247-1777 Email: [email protected] Website: www.vigorindustrial.com President & CEO: Frank Foti The Company: Based in Portland, Oregon, Vigor Industrial is the Pacific Northwest’s leader in shipbuilding and repair. With seven shipyards and two
- Cammell Laird, Cascade General Enter Agreement Maritime Reporter, Oct 2000 #48
General has leased the facility from Portland Port Authority since 1995, when it became the sole shiprepairing company in the port. Since then, Frank Foti, chairman of Cascade General, and future head of the new operation, has been looking to complete the buy-out. The yard currently boasts an annual
- Insights: Maritime Mergers and Acquisitions - All About Risk Maritime Logistics Professional, Q1 2013 #20
acquired Alaska Ship and Drydock in Ketchikan after raising $75 million through private equity firm Endeavour Capital of Portland, OR. Vigor owner, Frank Foti, continues to build scale through acquisitions, while diversifying the company’s construction and repair capabilities to include cargo fleets, barges

)
October 2019 - Marine News page: 54
PEOPLE & COMPANY NEWS Foti Petters deBruyne Buzby MHI Holdings LLC. The combined building, a carpenter’s work shop, and training to companies moving to the company will create a bicoastal lead- outside machinist shops for rotating industry standard platform. “The AC- er in critical ship repair services
)
March 2019 - Marine News page: 56
PEOPLE & COMPANY NEWS Foti Kirby acquires Cenac assets Greg Beers, BHGI Middlebrook Sydney, Australia to be their exclu- substantial increase in the number tomary closing conditions, including sive North American vessel design of Vigor employees who will be liv- regulatory approvals under the Hart- represe
)
December 2017 - Maritime Reporter and Engineering News page: 40
brings our vision to life,” said standards, the ? rst-in-class Harvest was USCG and ABS approved Ballast Water Treatment System Vigor CEO Frank Foti. “It combines completed on an aggressive timeline. 40 Maritime Reporter & Engineering News • DECEMBER 2017 MR #12 (34-41).indd 40 MR #12 (34-41)
)
July 2017 - Maritime Reporter and Engineering News page: 51
tug and barge (ATB) unit. Savage, a supply chain solutions company, has been steadily in- creasing its footprint in the marine industry. Vigor CEO Frank Foti said, “[The NH3 barge project] combines Vigor’s ca- pabilities in large vessel construction with decades of experience building complex structures
)
June 2016 - Marine News page: 41
Kvichak/ 2011: Purchased Todd Paci? c's operations OIW space) Business Locations: 12 2012: Acquired Alaska Ship & Drydock in Ketchikan, AK President: Frank Foti 2014: Acquired Oregon Iron Works Founded: 1995 (Vigor name established 2000) 2015: Acquired Kvichak Marine Industries www.marinelink.com MN June16
)
April 2016 - Marine News page: 12
INSIGHTS Frank Foti This month, the charismatic and enthusiastic Foti weighs President and CEO, in on the domestic shipbuilding scene during a time of challenges for the entire maritime cluster. Listen in as Foti Vigor Industrial LLC tells it as only he can do: Give the readers your broad stroke
)
April 2016 - Marine News page: 2
CONTENTS MarineNews April 2016 • Volume 27 Number 4 INSIGHTS 12 Frank Foti President and CEO, Vigor Industrial LLC REGULATORY WATCH 18 The Master’s Authority: a Vital SMS Caveat As safety management systems (SMS) on board vessels evolve, the vessel’s master still holds ultimate authority.
)
September 2014 - Maritime Reporter and Engineering News page: 12
ships, tankers and cargo ships. It also will free the company to send another drydock from Portland to Seattle, ex- panding capacity there. Frank Foti, Vigor CEO, said the new drydock will allow the company to better serve a range of customers with large vessels at a time when total large- drydock
)
August 2014 - Maritime Reporter and Engineering News page: 95
we could attain critical mass so that we could be a large enough company to effectively train, bring in good leaders, provide continuous em-ployment,? Foti said. ?That necessity is mother of much creativity.? ?Resurgence is an interesting word, be- cause in a sense consolidation has helped to create the
)
August 2014 - Maritime Reporter and Engineering News page: 94
Reporter & Engineering News ? AUGUST 2014 ?Vigor is a diversi Þ ed marine and industrial fabri- cator and it is a ship repair specialist,? is how Frank Foti, the owner of Vigor Industrial for nearly 20 years, concisely describes his company. ?You?re in a ship- yard (Vigor Seattle) where there?s a Navy destroyer
)
August 2014 - Maritime Reporter and Engineering News page: 6
sector continues to gain steam, powered by transport needs in the vibrant energy sector, I had the opportunity to visit with Vigor Industrial owner Frank Foti in his shipyard in Seattle last month. In my 20+ years at the helm of Maritime Reporter, I have been privi-leged to meet and interview hundreds of CEOs
)
August 2014 - Maritime Reporter and Engineering News page: 4
DiagnosticsImtech Marine is spearhead-ing a drive to make marine vessels more efÞ cient via re- mote diagnostics technology. 94Frank(ly) SpeakingFrank Foti of Vigor Industrial has steadily embarked on a consolidation of the PaciÞ c NW constuction and repair industry. He tells MR how and why. Editorial
)
August 2014 - Marine News page: 68
Avenue Portland, OR 97217 Tel: (503) 247-1777 Email: [email protected] Website: www.vigorindustrial.com President & CEO: Frank Foti V IGOR I NDUS TRIAL V IGOR I NDUSTRIAL August 2014 68 MN 66-75 MN Aug14.indd 68 7/18/2014 1:46:30 PM
)
April 2014 - Marine News page: 47
Balancing Act: No Problem for Vigor Construction funds linked to government work are about as placid and dependable as the Bering Sea. Says Foti. ?At best, the government is looking at reductions in defense spending. At worst, we?ll keep seeing made-up crises like se- questration and unpredictable
)
April 2014 - Marine News page: 46
boats and ferries in Alaska. Rather than be content with that, we?ve worked hard to share knowledge and talent between all of our locations.? ? Frank Foti, Vigor Industrial CEO 46 MNApril 2014MN April14 Layout 32-49.indd 46MN April14 Layout 32-49.indd 463/20/2014 11:54:55 AM3/20/2014 11:54:55 A
)
April 2014 - Marine News page: 44
tugs with Tidewater Barge Lines of Vancouver, Washington. The future Columbia- Snake River pushboats will be built in Portland instead of Seattle. Says Foti, ?Building tugs in Portland is a sign that Vigor is evolving as a busi- ness. In the past, our different locations had different fabrication specialties:
)
April 2014 - Marine News page: 43
and deploying experts from across the company to grow from simpler barges to more complex barges to now self- propelled vessels,Ó he says. CEO Frank Foti founded Vigor -- its name chosen for its connotations of energy and power Ð in 1995, when he took proceeds from selling a fam- ily-owned construction
)
April 2014 - Marine News page: 42
and builds big. The company?s new oating dry dock will be the largest in the United States. And Vigor wants to get even bigger. CEO and owner Frank Foti expresses an ambition to grow to twice the current size in the ?next few years.? Foti, who is also chairman of the Shipbuilder?s Council of America
)
October 2000 - Maritime Reporter and Engineering News page: 50
has leased the facili- ty from Portland Port Authority since 1995, when it became the sole shiprepairing company in the port. Since then, Frank Foti, chairman of Cascade General, and future head of the new operation, has been looking to complete the buy-out. The yard currently boasts an annual
)
November 2013 - Marine News page: 49
oil and gas indus- try. He will be based at InterMoorÕs ofÞ ces in Morgan City, LA. Vigor Renames Two Subsidiaries Vigor Industrial CEO Frank Foti has announced the renaming of two of the companyÕs subsidiaries. US Fab, VigorÕs fabrication and shipbuilding subsidiary, is now Vigor Fab. Alaska
)
September 2013 - Maritime Reporter and Engineering News page: 51
training options for each of the communities where we do business.?Without exception, every person in- volved in the training programs credits CEO Frank Foti for the program?s exis- tence. Says Johnson, ?[Foti] was 100% supportive.? Mannion concurs, ?If Frank says ?make it happen,? it happens.? With lists
)
September 2013 - Maritime Reporter and Engineering News page: 49
facility, Vigor began thinking about a similar option in Seattle. One day in late 2012, Haley was hosting a labor man-agement committee meeting when CEO Foti dropped by and announced they would be building a training center in Seattle and that it would open on June 1. With the announcement made public
)
September 2013 - Maritime Reporter and Engineering News page: 48
prob-lem was set to get worse. Vigor?s abil- ity to meet expected demand hinged on a labor force that didn?t appear to exist. Workforce Development Frank Foti, Vigor?s CEO, isn?t one to sit around and wait for problems to self-resolve. He decided the best way to Þ nd a skilled available workforce was to
)
March 2013 - Marine News page: 59
,Ó it is also clear that very soon, Vigor wonÕt be able to Þ t anymore into that neat little package. With the cornerstone laid for what CEO Frank Foti hopes will come next, the Vigor Industrial transforma- tion is perhaps just one of any number of good news stories emanating from the domestic, mid-tier