OSI to Acquire Technology Supplier

Tuesday, November 08, 2005
Offshore Systems International has entered into a formal agreement to acquire a United States-based defense contracting company. The purchase price will be $9 million, of which approximately $8.1 million will be paid in cash, with the balance to be paid by the issuance of 1,067,975 OSI common shares. OSI first announced a non-binding letter of intent to acquire the target company on July 11, 2005. The target company reported revenues of approximately $12 million (unaudited) in 2004 and has shown consistent growth and profitability throughout its history. The company has approximately 80 employees located at three offices in the United States. The acquisition is expected to be completed by the end of 2005. Closing is subject to receipt of regulatory approvals and satisfaction of certain conditions.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

M-I SWACO Unveils Fluid, Cuttings Separator

M-I SWACO, a Schlumberger company, announced today the release of the SCREEN PULSE fluid and cuttings separator. Easily installed onto new or existing shale shakers,

Roozendaal to head MacGregor Business Area

Michel van Roozendaal (M.Sc. Aerospace Engineering; MBA INSEAD, Fontainebleau; b. 1963) has been appointed President of the MacGregor business area. He will

Recommendation from Statoil's Nomination Committee

The nomination committee in Statoil has recommended that the company's corporate assembly elects Øystein Løseth as new chair and Roy Franklin as a new member and

Offshore

M-I SWACO Unveils Fluid, Cuttings Separator

M-I SWACO, a Schlumberger company, announced today the release of the SCREEN PULSE fluid and cuttings separator. Easily installed onto new or existing shale shakers,

ENSCO 110, ENSCO 104 Contracted for UAE & M.E.

Ensco plc has entered into a three-year contract with NDC for a new premium jackup, ENSCO 110. This newbuild rig is scheduled to commence operations later this

Van Oord Develops Deep Dredging Solution

Over the past few years, Van Oord has developed a new technique for dredging at great water depths. This Deep Excavation System (DES) is an innovative method

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1884 sec (5 req/sec)