American Eco Joint Venture Receives Record Fabrication Contract of $162 Million.

TORONTO--(BUSINESS WIRE)--June 9, 1998--Michael E. McGinnis, Chairman, president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Eco Corporation announced today that American Eco has received the largest fabrication fabrication (fab´rikā´sh

n),
n the construction or making of a restoration. order in its history -- a US$162.0 million (Cdn $234.0 million) contract for its 51 percent joint venture with the Davie Industries subsidiary of Dominion Bridge. The contract is for fabrication and construction of two semi-submersible oil rigs.

Fabrication of the two Amethyst amethyst (ăm`əthĭst) [Gr.,=non-drunkenness], variety of quartz, violet to purple in color, used as a gem. It is the most highly valued of the semiprecious quartzes. oilrig platforms will begin in July at the Davie Shipyard, Quebec City and at American Eco's subsidiary MM Industra of Halifax, Nova Scotia For other uses, see Halifax.
Halifax, Nova Scotia may refer to any of the following:

Halifax Regional Municipality, capital of Nova Scotia, Canada

. London Guarantee, the second largest bonding company in Canada, has provided US$64.5 million (Cdn $90.0 million) in performance bonds for the contracts. The two Amethysts are being built for Petrodrill Offshore Inc., a Bohemian Corporation owned jointly by Maritima Petroleo E Engineria Ltda. of Brazil and Pride International, Inc. of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. are to be completed by the end of 1999.

Commenting onthe contract, McGinnis said: "This is a perfect joint venture effort, in which both American Eco and Dominion Bridge realize efficient utilization of their Canadian based facilities. American Eco's financial strength is allowing it to leverage its expertise by participation in more of these types of joint projects."

American Eco is a leading North American North American

named after North America.

North American blastomycosis
see North American blastomycosis.

North American cattle tick
see boophilusannulatus. provider of single-source industrial support and specialty fabrication services in the energy, pulp & paper, and power generating industries.


    CONTACT: American Eco Corporation
              Bruce Tobecksen, 888/774-3246
              www.americaneco.com
              or
              Cindy Jackson, 888/774-3246
              or
              VMW Inc.
              Sylvia Dresner, 212/605-3140
              VMWeiner@aol.com

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Publication:	Business Wire
Article Type:	Article
Geographic Code:	3BRAZ
Date:	Jun 9, 1998
Words:	258
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