Bouygues Offshore Sells SECHAUD & BOSSUYT Group.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Oct. 12, 1999-- 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 sale to the French group CEBTP of the SECHAUD & BOSSUYT Groupe S.A., SECHAUD & BOSSUYT S.A. and B.E.F.S. Ingenierie Sud-Ouest S.A., subsidiaries of Sofresid, which the Company acquired in May 1999. This operation will not affect the Company's forecasted sales and results. Commenting on the sale, Herve Le Bouc, Chairman and 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 Bouygues Offshore said: "As we announced in May, we completed the Sofresid acquisition as part of our strategy for continuing to strengthen our global turnkey services offering. This disposal of the SECHAUD & BOSSUYT Groupe S.A. subsidiaries, specializing in building management in France, allows the Company to remain focused on its core business." 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 turnkey projects. The Company also provides maintenance services to the oil industry, engages in maritime and river-related civil work projects and provides design, engineering and construction in: 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. ), chemical and refining, and energy and industry. |
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