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    Technip-Coflexip sells McNulty's Offshore

    Yard News // August 2, 2002
    Technip-Coflexip has announced that it has sold McNulty Offshore Ltd and Captain FrankMcNulty & Sons Ltd in the UK to the Managing Director of McNulty Offshore Ltd.

    Technip-Coflexip had a 90 per cent stake in both companies following the purchase of Aker Deepwater Company in January 2001.

    According to the terms of this agreement, Technip-Coflexip has sold the Newcastle-based yard,together with all activities and resources dedicated to it, to McNulty's Managing Director.
    The transaction is in line with Technip-Coflexip's strategy of disposing of non-strategic assets.

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