In the 1980's, PBI was involved in three major projects for the US Navy. Seven 108' wood hull YP training craft were constructed for use by the Naval Academy. PBI built four ARS Safeguard Class Rescue Salvage Ships - 255' steel hull ships with heavy lift capability and divers life support systems. PBI also began what was to be the last of its minesweeping vessels, the MCM Avenger Class. PBI built eleven of these ships, the most sophisticated of their type, which are 224' wood hull ships with minesweeping and minehunting capabilities. PBI completed the MCM class in 1994.

PBI constructed several patrol craft in the 1990's including diving boats, harbor security boats and patrol boats for the Egyptian Navy. After a long and distinguished history, PBI ceased shipbuilding operations in 1995.

Shipbuilding evolved into PBI's present businesses.  Current operations include Quarterdeck Marina and Peterson Industries LLC.  Peterson Development LLC manages real estate holdings in the Sturgeon Bay area.  All companies are wholly-owned subsidiaries of Peterson Builders, Inc.  Our minesweeping tradition was continued in Ingleside, Texas where PBI performed maintenance and repair work on the MCM and other ships under the Mine Warfare Command from 1992 to 2000. Our experience in outfitting the ships we constructed lead to the creation of the Procurement Services division which provided spare and repair parts for a variety of weapons platforms used by US and foreign military commands. The Peterson family's interest in pleasure craft is carried on at the Quarterdeck Marina located in Sturgeon Bay, Wisconsin. PBI remains a family owned business. Ellsworth Peterson is chairman of PBI's Board of Directors.