Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Global Industries to sell liftboat fleet

    News // October 1, 2004
    Global Industries in the US has announced that on September 2nd it entered into a definitive agreement to sell the assets of its liftboat division to Mercury Offshore Assets LLC. The transaction, which is subject to certain conditionsprecedent, is valued at approximately US$53 million and was expected to be completed within the next 45 days.

    William J Doré, Chairman of the Board and Chief Executive Officer, stated: "Since 1994 the liftboat division has provided vessels to serve our customers who perform well abandonment and wireline services as well as other offshore field development and maintenance services. However, the market is transitioning into a turnkey, fully integrated well services environment and that market is not part of our corporate strategy."

    More articles from this category

    More news