FARA Pacific Holdings, LLC (“FARA”), a long-term liability management company specializing in the acquisition and management of corporate asbestos and other legacy liabilities announced it has acquired from Vigor Industrial LLC (“Vigor”), a values-driven, diversified industrial business, Todd Shipyards LLC (“Todd Shipyards”), a subsidiary that holds all legacy asbestos liabilities and related insurance assets. At closing, which occurred in Q1 2025, Vigor contributed cash, insurance, and other assets to adequately capitalize Todd Shipyards’ operations. The transaction permanently removes all asbestos related liabilities and obligations from Vigor’s balance sheet. Existing employees, customers and vendors of Vigor will experience no change in their business interactions with Vigor as a result of the divestiture.

At closing, FARA, through its subsidiary, Shipyar Industries LLC, assumed the ownership of Todd Shipyards, including the administration of all the asbestos claims.

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