TCMS NEWS!!!
TransCoastal Wins Four Pipeline Installation Projects
HOUSTON--(BUSINESS WIRE)--Nov. 13, 1997--TransCoastal Marine Services, Inc.
(Nasdaq:TCMS - news) announced today that it has won four pipeline installation contracts with a
combined value of $19 million. The largest of these assignments is for Destin Pipeline Co. L.L.C., a
consortium of Shell, Amoco and Sonat. That project consists of installing 18 miles of 36-inch
pipeline from the federal-Alabama state line in the Gulf of Mexico to a new gas processing plant in
Pascagoula, Miss.
''The project represents an important first success for TransCoastal,'' said Bo Smith, TransCoastal
president and chief operating officer. The 18-mile TransCoastal project originally was solicited
under two separate bids, each approximately nine miles in length, by HBH, Inc. and Woodson
Construction Co., two companies that TransCoastal recently acquired. One bid included the work
from the federal-Alabama state line to the 10-foot contour; the other extended from there through
the marsh and swamp to the terminating site in Pascagoula.
''This important assignment shows how TransCoastal's consolidation of four separate companies
will bring value to clients who no longer will have to break shallow-water and transition zone
projects into multiple contracts and manage them separately,'' said Smith. ''We expect these larger
projects to be more attractive and cost-effective both for our clients and for TransCoastal,'' said
Smith.
TransCoastal Marine Services, Inc., with executive offices in Houston, is a marine construction
company focusing on the transition zone and shallow-water regions along the U.S. Gulf Coast. Its
services include pipeline installation and repair; hydrostatic testing and commissioning of pipelines;
and fabrication and refurbishment of structural components of fixed platforms, offshore drilling rigs
and barge drilling rigs. TransCoastal completed its initial public offering in November, and
immediately acquired HBH Inc., Woodson Construction Co., CSI Hydrostatic Testers Inc., and Red
Fox Companies of New Iberia, Inc. |
