Building Industry Magazine - July 2012 - (Page 91)

HEALY TIBBITTS BUILDERS, INC. • 2011 Revenue: $17.09 million • Parent Company: Weeks Marine, Inc.; Cranford, N.J. • Construction Specialty: Marine construction, dredging, deep foundations including piledriving and drill shafts • Years in Hawaii: 48 • Employees in Hawaii: 100 • Public Sector Work: 88 percent • Work Subcontracted: 37 percent H ealy Tibbitts Builders, Inc. was unfortunately hit hard in 2011, experiencing a $27.69 million drop from 2010, but pushed through and kept its competitive edge, receiving two significant contract awards. According to Rick Heltzel, CEO of Healy Tibbitts, the overall revenue drop was due to a reduced volume of waterfront work being solicited by the state and Navy in the second half of 2010 and most of 2012. “This, coupled with a competitive market, where firms pursued non-traditional waterfront work at historic low prices, made for a very challenging year,” says Heltzel. On a positive note, the firm stayed busy on many projects, including renewable energy projects. One of its contract awards was for Honolulu Seawater Air Conditioning’s Deepwater Intake and Discharge Pipelines installation. The other is for the state Natural Energy Laboratory of Hawaii Authorities’ 40-inch Seawater Pipe Transition Section Upgrade project. Healy Tibbitts soon will start a $6 million maintenance-dredging project for the Navy, awarded late 2011. In 2011, Healy Tibbitts completed its $88 million Submarine Drive-In Magnetic Silencing Facility Project. $88 million Submarine Drive-In Magnetic Silencing Facility project. The project included installation of more than 180,000 square feet of cable on both the new pier overhead truss structure as well as underwater throughout the 700-foot long pier slip. Work also included installing 63 underwater magnetometer sensors and sensor cables. Work commenced in early 2011 and was completed in the first quarter of 2012. Heltzel says, “2012 will be much better than 2011 but not up to the revenue levels of prior years. The outlook is positive compared to this time last year. … I’m hopeful this trend will continue through the end of the year. It’s definitely an encouraging sign.” Other project highlights were the Navy’s $9.5 million Repair V-1 Dock, a designbuilt wharf upgrade project that replaced the entire deteriorated concrete deck structure and fender system, with stateof-the-art marine concrete and cathodic protection system. Contract design work started in late 2009 with final completion in early 2012 and the Navy’s $3.5 million OPN X, Y, Z Loop Cable Installation at Beckoning Point, a follow-up project to the Healy Tibbitts and Watts Constructors’ Healy Tibbitts completed its $9.5 million V-1 Dock repair for the Navy. TOP 25 www.buildingindustryhawaii.com 71 http://www.buildingindustryhawaii.com

Table of Contents for the Digital Edition of Building Industry Magazine - July 2012

Contents July 2012
Hawaii’s Top 25 Contractors
Educating for the Industry
Surviving a Tough Economy
Top Eats
News Beat
Forest City Completes $312M Neighborhood
2012 CAK Home Show Streams Live
Keokea Beach Park Renovation Completed
La Tour Bakehouse Partners with RevoluSun
Pier 29 Construction Complete
NAIOP Awards Honor Commercial Development
NAVFAC Awards $46.6M Contract
Departments
Datebook
Best Practices
Contracts Awarded
Concept to Completion: Marriott’s Ko Olina Beach Club, Phase 5
Low Bids
Spotlight on Success: BEQ, MCBH
News Makers
New Products
July's Features

Building Industry Magazine - July 2012