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 Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

New Binding Law of The Sea Agreement Advanced

WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N.

Oceans Can’t Take Any more: Researchers Fear Fundamental Change

Our oceans need an immediate and substantial reduction of anthropogenic greenhouse gas emissions. If that doesn’t happen, we could see far-reaching and largely

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Legal

New Binding Law of The Sea Agreement Advanced

WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N.

Oceans Can’t Take Any more: Researchers Fear Fundamental Change

Our oceans need an immediate and substantial reduction of anthropogenic greenhouse gas emissions. If that doesn’t happen, we could see far-reaching and largely

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair 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: 0.1489 sec (7 req/sec)