OSLO (Thomson Financial) - Subsea 7 Inc said it is planning to build a new
$32 million pipe fabrication facility at Port Isabel, Texas, in a bid to grow
its operations in the Gulf of Mexico.
The Norwegian firm said the new plant will support its American fleet of
pipe-lay and construction vessels.
"The investment enables Subsea 7 to remain highly competitive for future
pipe-lay projects and is a key milestone in our strategic objective to
significantly grow our business in the US, Mexican and Gulf of Mexico markets,"
said Bill Boyle, vice-president for the firm's north and central American
region.
alastair.reed@thomsonreuters.com
ar/jlc
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