The engineering outfit on Monday confirmed rumours thatit was closing the yard – a longtime centre of Gulf of Mexico offshoreconstruction – and consolidating its Atlantic segment activities in Altamira,Mexico.
Echoing prior management comments, chief executiveStephen Johnson said in a conference call Tuesday that the decision stemmedfrom “chronic under-utilisation and productivity for several years” astraditional activity declined in the Gulf of Mexico and customers moved todeeper waters.
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