Gulf Island Awarded Fabrication Contract to Support Rebuild of the Francis Scott Key Bridge
Gulf Island Fabrication (NASDAQ: GIFI) has secured a significant fabrication contract to support the reconstruction of the Francis Scott Key Bridge in Baltimore, Maryland. The fixed-price contract, valued at over $35 million, involves fabricating structural components for the iconic bridge's rebuilding effort.
Material procurement has already begun, with fabrication activities scheduled to commence in Q4 2025. The contract will be included in the company's new awards and backlog during Q3 2025. This strategic project represents Gulf Island's expansion beyond its traditional energy market focus, leveraging its expertise in heavy steel fabrication and modular construction.
Gulf Island Fabrication (NASDAQ: GIFI) ha assicurato un importante contratto di prefabbricazione per supportare la ricostruzione del Francis Scott Key Bridge a Baltimore, nel Maryland. Il contratto a prezzo fisso, del valore di oltre $35 milioni, prevede la realizzazione di componenti strutturali per il ripristino del ponte iconico.
La fornitura dei materiali è già iniziata, con le attività di prefabbricazione previste per Q4 2025. Il contratto rientrerà tra i nuovi premi e l'arretrato dell'azienda nel Q3 2025. Questo progetto strategico rappresenta l'espansione di Gulf Island oltre il suo tradizionale focus sul mercato energetico, puntando sulla sua esperienza in lavorazioni in acciaio pesante e costruzione modulare.
Gulf Island Fabrication (NASDAQ: GIFI) ha asegurado un contrato de fabricación significativo para apoyar la reconstrucción del Francis Scott Key Bridge en Baltimore, Maryland. El contrato a precio fijo, con un valor de más de $35 millones, implica la fabricación de componentes estructurales para el esfuerzo de reconstrucción del icónico puente.
La adquisición de materiales ya ha comenzado, y las actividades de fabricación están programadas para iniciar en Q4 2025. El contrato se incluirá en los nuevos premios y la cartera de pedidos de la empresa durante Q3 2025. Este proyecto estratégico representa la expansión de Gulf Island más allá de su enfoque tradicional en el mercado de la energía, aprovechando su experiencia en fabricación de acero pesado y construcción modular.
Gulf Island Fabrication (NASDAQ: GIFI)가 메릴랜드주 볼티모어의 프랜시스 스콧 키 다리 재건을 지원하기 위한 중요한 제작 계약을 체결했습니다. 고정가 계약으로 가치는 $3500만 이상이며, 아이코닉한 다리의 재건을 위한 구조 부재를 제작하게 됩니다.
자재 조달은 이미 시작되었고, 제작 활동은 2025년 4분기에 착수할 예정입니다. 이 계약은 2025년 3분기에 회사의 신규 수주 및 미수주 backlog에 반영될 것입니다. 이 전략적 프로젝트는 Gulf Island의 전통적인 에너지 시장 중심에서 벗어나 중량 강재 가공 및 모듈식 건설에 대한 expertise를 활용하는 확장을 나타냅니다.
Gulf Island Fabrication (NASDAQ: GIFI) a obtenu un contrat de fabrication important pour soutenir la reconstruction du Francis Scott Key Bridge à Baltimore, Maryland. Le contrat à prix fixe, d’une valeur de plus de $35 millions, prévoit la fabrication de composants structurels pour le rétablissement de ce pont emblématique.
L’approvisionnement en matériaux a déjà commencé, et les activités de fabrication sont prévues pour débuter au Q4 2025. Le contrat sera enregistré dans les nouvelles récompenses et le carnet de commandes de l’entreprise au cours du Q3 2025. Ce projet stratégique représente l’expansion de Gulf Island au-delà de son marché énergétique traditionnel, tirant parti de son expertise en fabrication d’acier lourd et en construction modulaire.
Gulf Island Fabrication (NASDAQ: GIFI) hat einen bedeutenden Fertigungsauftrag zur Unterstützung des Wiederaufbaus der Francis Scott Key Bridge in Baltimore, Maryland, gesichert. Der Festpreisvertrag im Wert von über $35 Millionen umfasst die Fertigung von Strukturkomponenten für den Wiederaufbau der ikonischen Brücke.
Die Materialbeschaffung hat bereits begonnen, und die Fertigungsaktivitäten sollen im Q4 2025 starten. Der Auftrag wird im Q3 2025 in die neuen Auszeichnungen und Aufträge des Unternehmens aufgenommen. Dieses strategische Projekt stellt eine Expansion von Gulf Island über den traditionellen Energiemarkt hinaus dar und nutzt die Expertise des Unternehmens in schwerer Stahlerzeugung und modularer Bauweise.
Gulf Island Fabrication (NASDAQ: GIFI) قد أمنت عقد تصنيع هام لدعم إعادة بناء جسر فرانسيس سكوت كي في بالتيمور، ماريلاند. العقد الثابت السعر، الذي قيمته يزيد عن $35 مليونًا، يتضمن تصنيع مكوّنات هيكلية لجهود إعادة بناء الجسر الشهير.
لقد بدأ توفير المواد بالفعل، ومن المقرر أن تبدأ أنشطة التصنيع في الربع الرابع من 2025. سيتم إدراج العقد في الجوائز الجديدة ورصيد الأعمال للشركة خلال الربع الثالث من 2025. هذا المشروع الاستراتيجي يمثل توسيع Gulf Island خارج تركيزها التقليدي على سوق الطاقة، مع الاستفادة من خبرتها في تصنيع الصلب الثقيل والبناء المعياري.
Gulf Island Fabrication (NASDAQ: GIFI) 已获得一项重要的制造合同，以支持马里兰州巴尔的摩的 Francis Scott Key Bridge 的重建。该固定价格合同价值超过 $3500万，涉及为这座标志性桥梁的重建工作制造结构部件。
材料采购已开始，制造活动预计将在 2025年第四季度启动。该合同将于 2025年第三季度纳入公司新的中标和待办项。这个战略项目标志着 Gulf Island 超越其传统的能源市场重点，利用其在重型钢材加工和模块化建筑方面的专业能力。
- Contract value exceeds $35 million, boosting company's backlog
- Strategic diversification beyond traditional energy market
- Project demonstrates capability to secure critical infrastructure contracts
- Immediate project initiation with materials procurement already underway
- Fixed-price contract structure carries potential cost overrun risks
Insights
GIFI secures $35M+ bridge contract, diversifying revenue beyond energy markets while leveraging core fabrication strengths.
Gulf Island Fabrication has secured a fixed-price contract exceeding
The contract's value and fixed-price structure provide revenue visibility for investors, with work already beginning—material procurement is underway and fabrication will commence in Q4 2025. This project will directly contribute to the company's third quarter 2025 backlog, strengthening near-term financial prospects.
What makes this particularly noteworthy is how Gulf Island is leveraging its core competencies in steel fabrication, modular construction, and time-critical project execution to penetrate new markets. The Francis Scott Key Bridge represents high-profile infrastructure work that could position Gulf Island for similar future contracts amid increasing infrastructure investment nationwide.
The expedited timeline requirement aligns with Gulf Island's operational capabilities while addressing an urgent reconstruction need for this vital East Coast transportation link. Beyond the immediate financial impact, this project enhances Gulf Island's credentials in the infrastructure sector, potentially opening doors to a broader range of government and infrastructure contracts going forward.
THE WOODLANDS, Texas, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. (NASDAQ: GIFI) (“Gulf Island” or the “Company”), a leading steel fabricator and service provider to the industrial, energy and government sectors, today announced it has been awarded a fabrication contract to support the rebuilding of the Francis Scott Key Bridge in Baltimore, Maryland.
Gulf Island will be fabricating structural components for the reconstruction of the iconic bridge, a vital transportation link on the East Coast. The Company’s expertise in heavy steel fabrication and project execution will play a critical role in delivering high-quality components on an expedited timeline. The contract is fixed-price with an estimated value in excess of
“This award represents more than a project win—it reflects Gulf Island’s ability to adapt, evolve and bring our proven capabilities to new markets of national importance,” said Richard Heo, Gulf Island’s President and Chief Executive Officer. “The project aligns with our strategy to diversify beyond our traditional energy end market and leverages our core competencies in project execution around steel fabrication, modular construction and time critical projects. Our team is honored to support the rebuilding of the Francis Scott Key Bridge, which is not only essential to the region’s transportation network, but symbolic of the country’s history and resilience.”
ABOUT GULF ISLAND
Gulf Island is a leading fabricator of complex steel structures, modules and automation systems, and a provider of specialty services, including engineering, project management, commissioning, repair, maintenance, scaffolding, coatings, welding enclosures, cleaning and environmental, and technical field services to the industrial, energy and government sectors. The Company’s customers include U.S. and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial and power operators; EPC companies; and federal, state and local governments. The Company is headquartered in The Woodlands, Texas and its primary operating facilities are located in Houma, Louisiana and Houston, Texas. For more information please visit www.gulfisland.com.
CAUTIONARY STATEMENT
This release contains forward-looking statements. Forward-looking statements are all statements other than statements of historical facts. The Company cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause its actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, the factors described under “Risk Factors” in Part I, Item 1A of the Company’s annual report on Form 10-K for the year ended December 31, 2024, as updated by subsequent filings with the SEC. Additional factors or risks that the Company currently deems immaterial, that are not presently known to the Company or that arise in the future could also cause the Company’s actual results to differ materially from its expected results. Given these uncertainties, investors are cautioned that many of the assumptions upon which the Company’s forward-looking statements are based are likely to change after the date the forward-looking statements are made, which it cannot control. Further, the Company may make changes to its business plans that could affect its results. The Company cautions investors that it undertakes no obligation to publicly update or revise any forward-looking statements, which speak only as of the date made, for any reason.
COMPANY INFORMATION
| Richard W. Heo | Westley S. Stockton |
| Chief Executive Officer | Chief Financial Officer |
| 713.714.6100 | 713.714.6100 |
FAQ
What is the value of Gulf Island's Francis Scott Key Bridge reconstruction contract?
When will Gulf Island begin fabrication work for the Francis Scott Key Bridge project?
How does the Francis Scott Key Bridge contract align with GIFI's business strategy?
When will the Francis Scott Key Bridge contract be included in Gulf Island's backlog?
