SEATTLE — Foss Maritime's shipyard in Seattle's Queen Anne neighborhood permanently closed Saturday.
The decision follows an evaluation of business lines and the company's effort to "improve the viability of the Seattle shipyard over many years."
“While the closure of the Seattle shipyard is a strategic decision for the future of Foss, it is not a decision we have taken lightly,” said Will Roberts, president of Foss Maritime. “We have employees and families who have been with us for decades; our priority is assisting them in this transition.”
The closure affects 115 employees, the company told KING 5.
Shipyard employees will continue to receive salary, benefits, and an average of overtime wages through the end of the year, according to the company.
The company will use other shipyards to maintain its fleet.
Other areas of Foss's operations are not affected, according to the company.
The company, founded in 1889, offers maritime services and project management. It has one of the largest fleets of tug boats and barges on the West Coast.