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Article: THE COFLEXIP STENA OFFSHORE GROUP CONSOLIDATES ITS POSITION IN THE STRATEGIC AREA OF CONTROL UMBILICALS FOR SUBSEA WELLHEADS
- Article from:
- PR Newswire
- Article date:
- November 27, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS, Nov. 27 /PRNewswire/ -- Coflexip Stena Offshore (Nasdaq: CXIPY) is buying BTR's shares of DUCO, which it is going to take control of, and it will start to build a steel umbilical factory in the United States.
Since 1989, Coflexip (49.9 percent) and BTR (50.1 percent) were partners in the running of DUCO (Dunlop Coflexip Umbilicals Ltd., 130 people), in Newcastle upon Tyne in England, specialized in the fabrication of control umbilicals for subsea wellheads.
Structural changes within the offshore services industry has led BTR and Coflexip Stena Offshore to the conclusion that the future development of DUCO would be more effectively achieved as an ...