Global Acquires Marine Construction Business

Friday, August 20, 1999
Global Industries, Ltd. has attained the offshore marine construction business of its Mexican joint venture CCC Fabricaciones y Construcciones, S.A. de C.V. and sold its interest in CCC to the other principal shareholder of CCC, Grupo Consorcio de Fabricaciones y Construcciones. Under these terms, Global is acquiring four marine vessels and the marine support base at Cuidad de Carmen, Mexico, in addition to the existing offshore marine construction contracts totaling more than $72 million. Another transaction in the works is a definitive purchase agreement that was signed for the attainment of ETPM, SA, an international offshore construction company. The combined company will be the largest offshore construction company in market capitalization with combined 1998 revenues of about $1.3 billion. Joining forces with Global’s current international operations, ETPM will work to create a new International Division, with Pierre Laborie, ETPM’s current president and CEO as head of the venture. From a construction standpoint, Global used its deepwater pipelay/heavy-lift barge Hercules to install 17.6 miles of 16-in. pipe for Dauphin Island Gathering Partners (DIGP) in the Gulf of Mexico this summer. Implemented between Main Pass Block 225 in water depths of 240 ft. (73.1 m) and Viosca Knoll Block 823 stationed in 1,130 ft. (344.4 m), Global’s vessel Pioneer assisted Hercules during pipelay as well as throughout installation of a pipeline skid at Viosca Knoll 823. Global Industries has added a new member to the company with the election of Russell J. Robicheaux as vice president and general counsel. Robicheaux, who previously served as assistant general counsel at J. Ray McDermott, holds a B.S. in Electrical Engineering from LSU and a J.D. from Loyola University.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Philippine Port Project Draws Multi-National Attention

MANILA, July 29 (Reuters) - A 18.99 billion pesos ($417.91 million) project to modernise a port in the southern Philippines has attracted interest from five groups,

Nigeria LNG to Receive Four Ships in 2015

Nigeria Liquefied Natural Gas Company (NLNG) expects to take delivery of four LNG carrier ships before year-end and another two next year, its chief executive said,

Sembcorp Marine: No Sete Brasil Payments This Year

Singapore's Sembcorp Marine has not received payment from Sete Brasil on drillship projects this year and may slow down the projects if the situation persists, a company executive said on Wednesday.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3161 sec (3 req/sec)