Search results for: David Dickson

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  • 22 October 2018
    Business & Finance

    McDermott International has informed that the National Safety Council (NSC) has elected David Dickson, McDermott’s president and chief executive officer, to its board of directors. “Safety is at the heart of everything we do at McDermott, making this an honor to represent McDermott on the National Safety Council’s board of directors,” said David Dickson. “Both organizations […]

  • 16 October 2018

    McDermott has cut first steel marking the start of fabrication for Total’s Tyra Redevelopment project in the Danish Sector of the North Sea.

  • 12 May 2015
    Business & Finance

    McDermott International, an engineering and construction company, has reported first quarter 2015 revenues of $550.5 million, a decrease of $53.3 million compared to revenues of $603.8 million for the prior-year first quarter.  According to the company, revenues for the first quarter 2015 were affected by weather and third-party performance delays on the company’s INPEX project, as […]

  • 11 May 2018
    Business & Finance, Operations & Maintenance

    McDermott has completed its combination with Chicago Bridge & Iron (CB&I), creating a fully integrated provider of technology, engineering and construction solutions for the energy industry. “This is an exciting day for McDermott,” said David Dickson, president and CEO of McDermott. “The combination of McDermott and CB&I brings together a global upstream and subsea engineering, […]

  • 11 May 2018

    McDermott International said its combination with Chicago Bridge & Iron Company (CB&I), creating a premier provider of technology, engineering and construction solutions for the energy industry has been completed.

  • 1 July 2020
    Business & Finance, Business developments & projects

    U.S. engineering and construction services company McDermott International has completed its restructuring process by shedding nearly all of the company’s $4.6 billion of funded debt.

  • 19 December 2017

    Two engineering specialists McDermott and CB&I have agreed to combine in an all-stock transaction valued at $6 billion, to create an onshore-offshore engineering, procurement, construction and installation service company. 

  • 21 February 2018
    Business & Finance, Operations & Maintenance

    Houston-based McDermott posted quarterly profit of $25.5 million, or 9 cents per fully diluted share, compared to $500K loss in the fourth quarter 2016. McDermott’s result for the full-year 2017 was profit of $178.5 million or 63 cents diluted EPS, versus $34 million profit of 12 cents per diluted share in 2016. The full-year profit […]

  • 21 January 2020
    Business & Finance

    McDermott said it has secured the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitize nearly all the company’s funded debt, eliminating over $4.6 billion of debt. The restructuring transaction will be implemented through a prepackaged Chapter 11 process that will be financed by a debtor-in-possession […]

  • 7 March 2014
    Business & Finance

    McDermott International, Inc. has been awarded a contract by Brunei Shell Petroleum Company Sdn. Bhd. (BSP) to transport and install offshore structures for Champion Waterflood B2/3.

  • 11 May 2018
    Business & Finance

    Offshore engineering, construction, and installation company McDermott International has expanded its capabilities, becoming an onshore-offshore EPCI specialist, as it closed the acquisition of CB&I on Thursday. The new company, described as the “premier, fully integrated provider of technology, engineering and construction solutions for the energy industry” will continue under the name McDermott. “This is an exciting […]

  • 7 March 2014
    Business & Finance, Project & Tenders

    McDermott International, Inc. announced that one of its subsidiaries has been awarded a contract by Brunei Shell Petroleum Company Sdn. Bhd. (BSP) to transport and install offshore structures for Champion Waterflood B2/3. The scope includes the transportation and installation of four jackets in 25-30 meters of water depth. The project is included in McDermott’s fourth […]

  • 4 April 2014

    McDermott International, Inc. announced today that one of its subsidiaries has sold the site of the former Harbor Island fabrication yard near Corpus Christi, Texas, which closed in 2003, for proceeds of $31.7 million. A gain of $25 million from the sale is expected to be recognized in the second quarter of 2014. “The sale […]

  • 18 April 2018
    Business & Finance

    As the clock ticks on McDermott and CB&I merger, another firm has decided to weigh in on the proposed plan. 

  • 22 November 2013
    Business & Finance

    McDermott International, Inc. has named D. Bradley McWilliams as its non-executive Chairman of McDermott’s Board of Directors effective upon the retirement of Stephen M. Johnson as McDermott’s Chairman of the Board on December 31, 2013. McWilliams will serve as non-executive Chairman through the Company’s annual meeting on May 6, 2014. McWilliams has served as a […]

  • 19 December 2017
    Business & Finance, Equipment

    McDermott and CB&I have agreed to merge in an all-stock transaction to create an integrated onshore-offshore company, with a broad engineering, procurement, construction and installation (EPCI) service offering. Upon completion of the transaction, McDermott shareholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately […]

  • 3 July 2014
    Business & Finance, Equipment, Operations & Maintenance

    McDermott International, Inc. has successfully completed the Ayatsil-B Drilling Platform for PEMEX Exploración y Producción in the Bay of Campeche Ayatsil field. McDermott was awarded the contract in 2012 and provided engineering, procurement, fabrication, pre-commissioning, load-out and sea fastening of the Ayatsil-B eight-leg jacket and deck, weighing approximately 11,535 tonnes in water 115 meters deep. “McDermott […]

  • 26 January 2018
    Business & Finance

    McDermott and CB&I said that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to their proposed combination. As previously announced on December 18, 2017, McDermott and CB&I have agreed to combine in an all-stock transaction to create a vertically […]

  • 5 January 2018
    Business & Finance

    McDermott has informed that Ian Prescott as Vice President, Asia, effective January 8, will succeed Hugh Cuthbertson who announced plans to retire from the company. Prescott will also be a member of McDermott’s executive committee. Prior to this appointment, Prescott was senior vice president and director of Asia Pacific for SNC-Lavalin. He also served as […]

  • 5 March 2014
    Business & Finance, Equipment, Project & Tenders

    McDermott International, Inc. announced that one of its subsidiaries was awarded a substantial contract to provide the electrical power supply system for Saudi Aramco in the Abu Ali and Khursaniyah fields in the Arabian Gulf. The project includes the procurement, construction, and installation of two 20-kilometer 230 kV subsea circuits routed offshore to connect land […]

  • 17 March 2014
    Business & Finance

    McDermott International, Inc. was recently awarded “Best Contractor HSE Performer, 2013” by Malaysian oil company Petronas Carigali for work performed on its Kepodang Gas Development Project. “Industry recognition is the best way to demonstrate the success of McDermott’s Health, Safety, Environment and Security (“HSES”) culture,” said David Dickson, President and Chief Executive Officer. “McDermott has […]

  • 14 August 2017
    Business & Finance, Operations & Maintenance

    McDermott has appointed John Freeman as senior vice president, general counsel and corporate secretary, effective today. He succeeds Liane Hinrichs who has announced her intention to retire from the company at the end of the year. David Dickson, president and chief executive officer of McDermott, stated: “The company is grateful for Liane’s contributions to McDermott […]