Avondale, Louisiana -- Avondale Industries, Inc., recently was awarded a contract to construct river hopper barges for Ingram Ohio Barge Company. The multi-barge contract is valued at approximately $26 million including options, and will provide employment for approximately 175 people starting in July 1995 and going into 1996. Albert L. Bossier, Jr., Chairman, President and Chief Executive Officer stated, "This new contract will be one of the first construction projects to be built utilizing the Company's newly constructed steel processing facility. This facility is part of the Company's $20 million modernization plan which will allow Avondale to improve accuracy and quality of steel fabrication at a lower cost to our customers. Financing for the project was made possible by the Maritime Administration's Title XI program which provides a government financing guarantee for projects of this type. This is an exciting opportunity for Avondale to re-enter the barge construction market in a significant manner with a company like Ingram." Ingram, through its Ingram Barge Company affiliate, is one of the nation's leading barge lines with more than 40 line haul towboats and 1,400 barges hauling dry and liquid cargoes throughout the inland waterways systems. Avondale Industries, Inc., headquartered in New Orleans, is one of the nation's leading marine fabricators. In addition to its shipbuilding operations, the Company specializes in boat construction and is a major repair contractor for commercial and Navy ships. It is also involved in the modular construction of plants and components for a variety of land-based industries.