Bouygues Offshore Buys Majority Stake in Technoprojecto Internacional, an Electricity and Instrumentation Specialist.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Aug. 25, 1998--Bouygues Offshore S.A. (NYSE NYSE See: New York Stock Exchange : BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) ) today announced the purchase of a majority stake (85%) of the capital of Tecnoprojecto Internacional, a Portuguese company specializing in electricity and instrumentation. Tecnoprojecto Internacional, based in Lisbon, Portugal, operates both in the construction of industrial facilities and in industrial maintenance, including chemical and oil and gas facilities (refineries, offshore platforms, oil and gas terminals) specifically in Portugal and Portuguese-speaking countries. Tecnoprojecto Internacional generated revenues of FF 46 Million (US $7.6 Million(a)) in 1997, and forecasts revenues of FF 72 Million (US $11.9 Million(a)) for 1998. Commenting on the purchase, Ivan Replumaz, Chairman of Bouygues Offshore stated, "Tecnoprojecto Internacional, with its electricity and instrumentation specialty, fills out our maintenance service offering, and allows Bouygues Offshore to better position itself as aglobal maintenance services company." Bouygues Offshore S.A. is a leading international contractor serving the oil and gas industry, specializing in providing integrated solutions for the design, construction, installation and management of offshore and onshore oil and gas production-related turnkey projects. The Company also provides maintenance services to the oil production industry, engages in high-end maritime and river-related civil works projects and designs and constructs liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG LNG (liquefied natural gas): see under natural gas. ) import terminals and storage tanks. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties, notably in this section outlook above. Factors that could cause Company s net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight to differ materially from those estimated are the following: fluctuations in the level of oil and gas industry spending; the Company s ability to obtain additional contracts in 1998, fluctuation Fluctuation A price or interest rate change. in exchange rates and risks involved in the execution of contracts. (a) based on an exchange rate of US$1 = FF6.03
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