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McDERMOTT INTERNATIONAL TO ACQUIRE DELTA CATALYTIC

 NEW ORLEANS, May 20 /PRNewswire/ -- McDermott International, Inc. (NYSE: MDR) and Delta Catalytic Corporation of Calgary, Alberta, announced today that they have reached an agreement under which McDermott will acquire Delta Catalytic in two stages.
 McDermott will acquire approximately 50 percent of Delta Catalytic in a transaction to close June 11, and will acquire the balance at the end of 1996. Delta Catalytic will continue to operate under its existing management and will remain in Calgary.
 Delta Catalytic provides engineering, procurement, construction, maintenance, and tool and equipment rental services to industries worldwide, including oil and gas; power generation; industrial, civil, and marine construction; petrochemical; and pulp and paper.
 In addition to the acquisition, the companies will establish new operations under the name Delta Hudson to pursue engineering, procurement, and construction work in onshore energy related industries in the United States and internationally. Delta Hudson will use the combined resources of Delta Catalytic and Hudson Engineering, a McDermott subsidiary located in Houston.
 "This acquisition benefits both companies," said Robert E. Howson, chairman of the board and chief executive officer of McDermott. "The collective technological expertise and geographical presence of McDermott, Hudson Engineering, and Delta Catalytic provide a base for growth both in traditional markets and in new markets. We are pleased to be associated with a group of people with the skills and reputation of Delta's employees."
 "I'm extremely optimistic about the opportunities for Delta Catalytic's services resulting from this transaction," said A. Bernard Coady, chairman and chief executive officer of Delta Catalytic. "The international presence of McDermott and Hudson greatly enhances our ability to participate in major international projects, and the combination of our companies' resources will provide significant advantages to both McDermott and Delta Catalytic."
 McDermott International, Inc. is a leading worldwide energy services company. The company and its subsidiaries manufacture steam-generating equipment, environmental equipment, and government and aerospace products. They also provide engineering and construction services for industrial and utility facilities onshore, and to the oil and gas industry offshore.
 -0- 5/20/93
 /CONTACT: Don Washington of McDermott, 504-587-4080/
 (MDR)


CO: McDermott International, Inc.; Delta Catalytic Corporation ST: Louisiana, Alberta IN: OIL SU: ACQ

RA-BR -- AT003 -- 0735 05/20/93 11:35 EDT
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Publication:PR Newswire
Date:May 20, 1993
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