Cal Dive International Buys Canyon Offshore

Monday, December 10, 2001
Cal Dive International has acquired 85 percent of outstanding Canyon Offshore shares, with the remaining 15 percent to be acquired over the next three years. The acquisition, which is subject to the customary Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, Chairman and Chief Executive Officer of Cal Dive, stated, "As marine construction support in the Gulf of Mexico moves to deeper and deeper waters, ROV systems will play an increasingly important role." John S. Edwards, CEO of Canyon, said, "CDI was our first customer when Canyon began operations in early 1997 and we are extremely excited to be joining the CDI group of companies and expect to be a major contributor to their continuing success. Joining the CDI group of companies greatly expands Canyons ability to further develop our global capabilities; provides access to capital, a large fleet of dynamically positioned vessels and access to considerable project management resources. Canyon's successful international submarine cable burial business also provides a baseline for the expanded groups international operations and revenue diversification." Canyon will function as an independent operating company, continuing to provide ROV, intervention and cable / flowline burial services to all our customers. Canyon offers a wide range of subsea services to the oil and gas industry, including ROV Services for construction, drilling support, survey, engineering, repair and maintenance.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

IMRF, McMurdo Partner on SAR Initiatives

The IMRF, the charity supporting maritime SAR service globally, and McMurdo, a company in search and rescue and maritime domain awareness solutions, announced a

First Damen Twin Axe for Offshore O&G

To develop its large fleet, Groen Offshore, Guard & Support has selected the first Damen Twin Axe Fast Crew Supplier 2610 to be customised with Offshore Oil & Gas standby capabilities.

Sea Shepherd Global Launches Operation Siracusa

Following on from the incredibly successful 2014 campaign, Sea Shepherd Global launches Operation Siracusa 2015. Led by Sea Shepherd Italia, the campaign aims

Education/Training

UKHO ‘Living with ECDIS’ Seminars at Nor-Shipping

Seminar to include information on updated IHO ENC Standards   The United Kingdom Hydrographic Office (UKHO) has announced the details of its free-to-attend ECDIS Seminars at Nor-Shipping,

Training: Cutting Costs While Remaining Cutting Edge

Businesses are operating in tough economic times, with budgets being significantly cut during the current industry downturn. Unfortunately, when lowering costs is a key priority,

Shanghai Shipyard Won Bid for Two Survey Vessels

Shanghai Shipyard has won bids to build two multipurpose survey vessels for two geological survey institutes. The shipyard is an affiliate of China State Shipbuilding Corporation (CSSC).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.3637 sec (3 req/sec)