Coflexip Stena Offshore's Indian entity changes name to SEAMEC

Jul 31, 2000 02:00 AM

Coflexip Stena Offshore announced that at their Annual General Meeting, held in Calcutta on 27th July 2000, the shareholders of Peerless Shipping & Oilfield Services Ltd. (PSOSL), one of CSO Group's Indian entities, unanimously passed a resolution approving the change of name of the company to South East Asia Marine Engineering & Construction (SEAMEC).
The CSO Group owns 58 % SEAMEC after the acquisition on October 25, 1999 of additional shares from Peerless General Finance & Investment Company.
South East Asia Marine Engineering & Construction was selected as the most appropriate new name for the company. It will more accurately reflect the business activities and aspirations of the company, both in terms of territorial coverage and scope of application.
The main assets of the company, the three Multipurpose Support Vessels, which are being utilised to perform subsea construction and oil field support works will also be renamed to reflect this change in Company name. Accordingly, the present name of the Peerless Stena I, II and III will be changed to SEAMEC I, II and III respectively.

South East Asia Marine Engineering & Construction, the former PSOSL, is a Public Limited Company, with its registered office in Calcutta, operating office in Mumbai and listed on all major Stock Exchanges of India (Calcutta, Mumbai, Madras, Ahmedabad and National Stock Exchange of India), providing diving and subsea construction services for the oil and gas industry in India.

World leader in the subsea oilfield service industry, Coflexip Stena Offshore provides a wide range of services (project management, engineering design, procurement, subsea pipeline and umbilical laying, construction and maintenance work) and products (design and manufacture of flexible pipes, control umbilicals and remotely operated vehicles).
Coflexip Stena Offshore Group, headquartered in Paris, employs approximately 3,900 employees spread over five continents, with subsidiaries in Angola, Australia, Brazil, Canada, France,India, Norway, Singapore, the United Kingdom and the United States.

Source: Coflexip Stena Offshore via Newspage
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