Global Acquires Marine Construction Business

Thursday, August 19, 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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Port of Vancouver CEO Coleman to Step Down

Todd Coleman, CEO of Port of Vancouver USA, step down from his position May 19, after 15 years with the port.   Coleman, a Professional Engineer, began his career with the port in 2001,

Jensen Debuts New Tractor Tug Design

Crowley Maritime Corp.’s Seattle-based naval architecture and engineering firm, Jensen Maritime, reports it has designed a new tractor tug for Vessel Chartering

Elandra Yachts Expands, Launches Finishing Department

Elandra Yachts has added another layer of craftsmanship to its boat-building operation with the launch of a new in-house paint department at the Gold Coast plant,

Legal

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

Tanker Departs Libya Empty amid Political Crisis

A tanker that an oil company set up by Libya's eastern government prevented from loading has left the eastern port of Marsa el-Hariga, a port official said on Wednesday.

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.0948 sec (11 req/sec)