Gulf Island Fabrication, Inc. has reported its assessment of damages to its facilities. The majority of the damage was caused primarily by rising waters from Hurricane Ike that moved through the Gulf Coast beginning late Friday, September 12, 2008, and was sustained by administrative office buildings in Louisiana.
When flood waters began to recede Monday, September 15, 2008, office and essential yard personnel began performing various tasks to return the Company’s corporate headquarters and all the Company’s operating facilities (Gulf Island, L.L.C., Dolphin Services, L.L.C. and Southport, L.L.C.) to operating status. All Louisiana facilities’ employees were allowed to return to work Wednesday, September 17, 2008, and the Company anticipates three of its four Louisiana yards fully operational by early next week. The Company’s Louisiana West Yard will take an additional week to complete post hurricane clean-up and yard restoration.
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