McDermott Completes Acquisition of Marine Mechanical Corporation
04 Mai 2007 - 7:42PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (�McDermott� or the
�Company�) announced today that its Government Operations
subsidiary, BWX Technologies, Inc. (�BWXT�), has completed its
previously announced acquisition of Marine Mechanical Corporation
(�MMC�) for approximately $75 million. Headquartered in Euclid,
Ohio, MMC designs, manufactures and supplies electro-mechanical
equipment used by the United States Navy. MMC, employing
approximately 250 people, generated revenues in 2006 of
approximately $50 million and ended the year with backlog of
approximately $165 million. McDermott will operate MMC as a unit of
BWXT�s Nuclear Operations Division. McDermott is an engineering and
construction company, with specialty manufacturing and service
capabilities, focused on energy infrastructure. McDermott�s
customers are predominantly utilities and other power generators,
major and national oil companies, and the United States Government.
With its global operations, McDermott operates in over 20 countries
with more than 20,000 employees.
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