Etpm News

Subsea and marine recruitment specialist etpm announced two industry accreditations. The Aberdeen-headquartered company achieved its ISI 9001:2008 and 12001:2008 four months ahead of target. etpm also decided to take a proactive approach to gain Maritime Labor Convention (MLC) 2006 certification. The MLC 2006, which covers maritime labor law, came into force internationally in August 2013 and will come into force in the United Kingdom next year. While certification is not yet mandatory, recruitment companies can request that they be audited to show that their practices are already MLC compliant. etpm volunteered for audit and has been certified a year before implementation.

Aberdeen-based subsea and marine recruitment specialist etpm is continuing its company growth by opening a new office in Great Yarmouth and taking on two new members of staff to meet increasing client demand for experienced ROV staff. Great Yarmouth is strategically placed to service oil, gas, marine and renewables activity in the  North Sea and in addition to recruiting for the global marketplace, etpm Great Yarmouth will join a range of specialist support services supporting  the offshore industry in that region.

Stolt Offshore S.A. announced that, as expected, Vinci, the owner of the 6.1 million Stolt Offshore Common shares issued as partial compensation in the ETPM acquisition in December 1999, has advised Stolt Offshore of its intention to sell all of its Stolt Offshore shares as permitted by the ETPM acquisition agreement. Stolt Offshore has in turn advised Vinci that Stolt Offshore will organize this sale. release, it is Stolt Offshore's intention to buy back these shares and to do so in the second quarter of this year. The transaction will be funded through the use of existing Stolt Offshore S.A. credit facilities and the sale of Common shares to Stolt Offshore S.A.'s parent company, Stolt-Nielsen. S.A., and/or other interested parties for up to $65 million.

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.

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.

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.