UFAB - oil drilling deck fabrication Message Board

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Gold/Mining/Energy : UFAB - oil drilling deck fabrication

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To: RealMuLan who wrote (46)	9/24/1997 2:37:00 PM
From: RealMuLan	of 337

This perhaps has something to do with the price drop. Mcdermott sees gain on sale of UNIFAB stake Wednesday September 24 11:54 AM EDT NEW ORLEANS, Sept 24 (Reuter) - McDermott International Inc said Wednesday it expects to record in its second quarter results a $32 mln gain after a unit received $35.7 million for the sale of its interest in UNIFAB International Inc (UFAB). The company said its McDermott Inc unit received $28.7 million from the sale of common stock in UNIFAB and $7 million for the sale of contractual rights and real estate to UNIFAB. McDermott Inc held 1.715 million shares of common stock in UNIFAB, which were sold as part of UNIFAB's initial public offering, completed on September 19. McDermott International is an energy services company. UNIFAB manufactures decks and deck components for offshore drilling and production platforms.

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