Global Industries, Ltd. has signed a definitive purchase agreement to acquire ETPM, SA, a leading international offshore construction company wholly-owned by Groupe GTM, the construction affiliate of French utility Suez Lyonnaise des Eaux. The combined company will be the largest offshore construction company in market capitalization with combined 1998 revenues of approximately $1.3 billion. ETPM provides a full range of turnkey services, including design, procurement, fabrication, installation and commissioning of offshore platforms and pipelines. ETPM will be combined with Global's current international operations to create a new International Division. Pierre Laborie, ETPM's current president and COO, will head the new division.
