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    J Ray completes sale of Menck

    News // September 29, 2003
    J Ray McDermott in the US, the subsidiary of McDermott International, has announced that it has completed the sale of Menck GmbH to the UWG Group. Terms of the sale were not disclosed, but the divestiture of Menck has increased J Ray's liquidity positionby approximately US$8 million.

    Menck, an anchoring and foundation specialist based in Germany, had been classified as discontinued operations during the second quarter of 2003 in anticipation of its sale.

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