The Columbian is reporting that Christensen Shipyards might be moving ahead with a new ownership structure. The paper said that it received a statement from the Columbia River Economic Development Corporation that the Christensen board is “currently working on a multipart ownership restructure.” Christensen is one of the leading members of that organisation.

The statement added that the restructure should be completed “in principle” by this weekend and that “operations should commence” the week of December 8.

“Details are few. The nature of the company’s restructuring is unclear. Likewise, it’s unclear what, if any, impacts the change may have on its employees,” said the newspaper.

Christensen said it would not comment until next week. The company was incorporated in 1985 by founder Dave Christensen, who retired in 2009. In a February press release, it said it had 350 employees.