Daewoo Heavy Approves Split Plan

Tuesday, March 14, 2000
Daewoo Heavy Industries Co. shareholders approved a plan to split the firm into three companies, officials said. The plan will go into effect May 1. Under the plan, the company will split into shipbuilding firm Daewoo Shipbuilding and Marine Engineering Co., machinery maker Daewoo Heavy Industries and Machinery Ltd. and Daewoo Heavy Industries Co. for the remaining operations. Daewoo Heavy is among the 12 Daewoo Group firms put under a creditors-led debt restructuring program in late August last year, as the group was teetering on the brink of insolvency.
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Offshore

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Russia: Exxon Still Drilling in its Arctic

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MAN-Powered Cargo Vessel Meets Tier III

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Finance

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

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Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

 
 
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