TransCoastal Signs Contracts Totaling Approximately $22 Million
HOUSTON--(BUSINESS WIRE)--July 6, 1999--TransCoastal Marine Services Inc. (Nasdaq:TCMS) announced today that it had signed contracts with a subsidiary of Penn Maritime Inc. in excess of $22.0 million for the modification and double-hull conversion of two barges. The work on these two barges will be carried out by the Company's Fabrication and Offshore Group at its facilities in New Orleans.
Nathan M. Avery, chairman, president and CEO, stated, "The conversion of these barges is a perfect fit for the marine expertise of our fabrication facilities. The project will begin in July and will extend into the fourth quarter of 2000."
TransCoastal Marine Services Inc., headquartered in Houston, is a marine construction company. The Company's Pipeline and Marine Group performs pipeline installation and repair worldwide. The Pipeline and Marine Group also provides construction support services, including hydrostatic testing and commissioning of pipelines. TransCoastal's Fabrication and Offshore Group fabricates, refurbishes and installs offshore drilling rigs, barge drilling rigs, production platforms and performs related fabrication services.
CONTACT:
TransCoastal Marine Services Inc., Houston
Pamela L. Reiland, 713/626-7582 |
