J.M. Martinac Shipbuilding says it will work for no profit.
J.M. Martinac Shipbuilding says it will work for no profit.
The Tacoma shipyard is a subcontractor to Vigor Industries on its $115 million contract to build Washington’s new 144-car ferry. It faced a Vigor-imposed deadline of today to lower its price or be dropped.
The company sent a letter Monday afternoon with a counter-offer: Martinac will work for the cost of time and materials. It won’t build in money to make a profit.
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