Dominion Bridge Starts Construction of $234.0 Million of Semi-Submersibles.MONTREAL--(BUSINESS WIRE)--June 10, 1998-- Dominion Bridge Corp (VSE See DOS/VSE. VSE - Virtual Storage Extended :DMO DMO Debt Management Office (Bank of England) DMO Destination Marketing Organization DMO Defence Materiel Organisation (Australia) DMO Dental Maintenance Organization DMO Distributed Mission Operations .U.) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DBCO) Allen S. Gerrard, Chairman of DOMINION BRIDGE CORPORATION announced that Davie Industries, subsidiary of Dominion Bridge Corporation, has received in escrow a mobilization payment of Cdn$23.0 million against the start of construction of a Cdn$234.0 million contract for 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. semi-submersible oilrig platforms. The two Amethyst oilrig platforms are being fabricated for Petrodrill Offshore Inc., a Bohemian Company 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. . London Guarantee with the support of American Eco Corporation of Toronto, has placed Cdn$90.0 million of Performance Bonds for Davie Industries, Quebec City subsidiary of Dominion Bridge, in order to commence fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. . "Now that the performance bond is issued, the release of funds from escrow to secure jobs for the Dominion Bridge, Quebec City subsidiary is expected to be completed by the end of June with the support of Societe de Development Industriel du Quebec, and the Canadian Export Development Corporation." Mr. Gerrard, Chairman of Dominion Bridge, stated, "Dominion Bridge's Davie shipyards can now start moving to secure additional drill rig projects and get our labour force back to work producing revenues for our shareholders." Dominion Bridge, established in 1879, is active in the international engineering and infrastructure markets. Dominion Bridge Corporation's subsidiaries are Dominion Bridge, Inc., Steen Becker, Inc., Davie Industries and McConnell Dowell Corporation of Australia. CONTACT: Dominion Bridge Corporation Derek Tennant, 416/343-4778 |
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