mcdermott international ( formerly j. ray mcdermott ) ( nyse : mdr ) is an american multinational engineering , procurement , construction and installation company with operations in the americas , middle east , the caspian sea and the pacific rim .

it is incorporated in panama and headquartered in houston , texas , united states .

mcdermott international

s international business growing in stature , the company was reorganized again . mcdermott international , mcdermott
mcdermott international , inc . .
international directory of company histories . . retrieved july 09 , 2018 from urltoken urltoken
mcdermott international , inc . .
international directory of company histories . . retrieved july 09 , 2018 from urltoken urltoken
mdr : dividend date & history for mcdermott international , inc . ( panama )
s wholly owned panamanian subsidiary since 1959 , became the parent company of mcdermott inc . and its subsidiaries . mcdermott international had been established as the international subsidiary of j . ray mcdermott & company . mcdermott
mcdermott international , inc . .
international directory of company histories . . encyclopedia . com . ( july 9 , 2018 ) . urltoken
mcdermott international , inc . .
international directory of company histories . . encyclopedia . com . ( july 9 , 2018 ) . urltoken
mcdermott international , inc . ( mdr ) dividend date & amp ; history - urltoken
, new orleans , louisiana , mcdermott international , [ n . d . ] .
mcdermott international revealed tuesday it has cut about 1 , 723 jobs since last october .
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here ' s why mcdermott international dropped 11 . 3 % in march - - the motley fool
is mcdermott international , inc . ( mdr ) outperforming other oils - energy stocks this year ?
mcdermott international prices $ 1 . 3 bln of 10 . 625 % senior unsecured notes due 2024
here ' s why mcdermott international dropped 11 . 3 % in march @ themotleyfool # stocks $ mdr
mcdermott international has been awarded three separate projects by an unnamed national oil company for the . . .
: : mcdermott awarded subsea umbilical and flowline installation contract for the lucius field . mcdermott international inc - contract award will be reflected in mcdermott ' s q2 2018 backlog . mcdermott international - announced contract award from anadarko petroleum for subsea umbilical and flowline installation .
: : mcdermott and cb & i ; announce conclusion of competition authority reviews for proposed combination . mcdermott international - cos have received antitrust clearance in russia for proposed combination . mcdermott international - deal expected to be completed in q2 2018 .
j . ray mcdermott s . a . , a mcdermott international subsidiary , completes the front runner spar hull project in the gulf of mexico . ( mcdermott )
mcdermott international is re - focusing its business overseas , particularly in the asia pacific market , hecht said .
mcdermott international has completed the deepwater subsea tieback from the otis well to the delta house floating . . .
in acquiring babcock & wilcox , mcdermott became a much larger , diversified company . to reflect its growth , j . ray mcdermott & company became mcdermott inc . in 1980 . in 1983 , with mcdermott ' s international business growing in stature , the company was reorganized again . mcdermott international , mcdermott ' s wholly owned panamanian subsidiary since 1959 , became the parent company of mcdermott inc . and its subsidiaries . mcdermott international had been established as the international subsidiary of j . ray mcdermott & company . mcdermott ' s reorganization as a panamanian company allowed it to avoid paying income tax on most of its operations .
the story of oil and gas offshore , new orleans , la . : mcdermott international , n . d .
: : mcdermott international inc - co expects to complete proposed deal with cb & i ; on may 10 .
: : mcdermott international inc - on may 10 , co entered into credit agreement - sec filing . mcdermott international - credit agreement provides for borrowings , letters of credit of $ 4 . 65 billion . mcdermott international - revolving credit facility , lc facility to mature on may 10 , 2023 ; term facility to mature on may 10 , 2025 .
mcdermott international will close its new orleans engineering office in october . ( nola . com | the times - picayune )
mcdermott international’s new derrick lay vessel , the dlv 2000 , has secured scope as part of the current . . .
mcdermott international also increased its full - year 2017 guidance - - pretty much across the board . here are the highlights :
mcdermott international stock split history | www . stock split history . com | copyright © 2013 - 2018 , all rights reserved
mcdermott international has signed a long - term agreement with l & t hydrocarbon engineering ( lthe ) , a wholly . . .
as of june 22 , weatherford international’s ( wft ) implied volatility was 58 . 9 % . since april 24 , when weatherford international’s first - quarter financial results were released , its implied volatility has decreased from 63 % . wft’s stock price increased nearly 21 % . weatherford international’s price forecast
mishra , arnab , ' mcdermott international : ready to recover , ' financial world , july 18 , 1995 , p . 22 .
mcdermott international has opened a new office in al khobar , saudi arabia , with the ability to add 300 staff to . . .
: : mcdermott international - announced award of a contract by posco daewoo for phase 2 of shwe gas field development offshore western myanmar . mcdermott international - co ' s portion of award is classified as a large contract , which will be reflected in its q2 2018 backlog .
source : international directory of company histories , vol . 37 . st . james press , 2001 .
: : mcdermott international says amended & restated commitment letter dated as of dec 18 , 2017 - sec filing . mcdermott international - amendment provides for senior secured term loan facility of $ 2 . 260 bln , a $ 1 bln senior secured revolving credit facility . mcdermott international - amendment also provides $ 1 . 390 bln senior secured letter of credit facility & senior unsecured bridge facility of $ 1 . 3 bln .
: : mcdermott international , inc . announces pricing of $ 1 . 3 billion of 10 . 625 % senior unsecured notes due 2024 .
international sites : australia canada china france germany hong kong italy the netherlands norway spain u . k . switzerland
international law firm mcdermott will & emery llp today announced the appointment of highly regarded senior restructuring lawyer timothy w . walsh as international head of its restructuring & insolvency practice . the move is part of the firm’s strategic initiative to significantly expand its worldwide restructuring and bankruptcy capabilities .
the oil market faces many uncertainties and it may not be time to buy stocks indiscriminately , but mcdermott international inc . mdr looks like a pretty compelling investment .
houston — houston - based mcdermott international inc . said it has eliminated about 1 , 700 job positions , mostly skilled labor jobs in its global fabrication yards .
mcdermott continued to move into the international sphere , establishing an office in beirut in 1960 . in 1962 mcdermott installed the first platform placed in cook inlet , alaska . in 1963 mcdermott overseas , mcdermott far east , mcdermott enterprises france , and oceanic contractors were established as subsidiaries of the company . in march 1964 , mcdermott had eight direct subsidiaries that operated under five divisions : contracting , oil , mcdermott fabricators , harvey lumber and supply company , and mcdermott shipyard .
mcdermott continued to move into the international sphere , establishing an office in beirut in 1960 . in 1962 mcdermott installed the first platform placed in cook inlet , alaska . in 1963 mcdermott overseas , mcdermott far east , mcdermott enterprises france , and oceanic contractors were established as subsidiaries of the company . in march 1964 , mcdermott had eight direct subsidiaries that operated under five divisions : contracting , oil , mcdermott fabricators , harvey lumber and supply company , and mcdermott shipyard .
mcdermott continued to move into the international sphere , establishing an office in beirut in 1960 . in 1962 mcdermott installed the first platform placed in cook inlet , alaska . in 1963 mcdermott overseas , mcdermott far east , mcdermott enterprises france , and oceanic contractors were established as subsidiaries of the company . in march 1964 , mcdermott had eight direct subsidiaries that operated under five divisions : contracting , oil , mcdermott fabricators , harvey lumber and supply company , and mcdermott shipyard .
in the first quarter , mcdermott international’s ( mdr ) revenues increased 17 % yoy ( year - over - year ) . sequentially , its revenues decreased 15 % .
mcdermott international investments co . , inc . ( panama ) ; hydro marine services , inc . ( panama ) ; mcdermott incorporated ( 92 % ) ; the babcock & wilcox company ; mcdermott scotland limited ( u . k . , 75 % ) .
: : mcdermott international , inc . announces proposed offering of $ 950 million of senior unsecured notes due 2024 and $ 550 million of senior unsecured notes due 2026 . mcdermott international inc - proceeds of offering will be deposited into a segregated escrow account . mcdermott - on satisfaction of escrow conditions , intends to use proceeds to pay part of price for pending acquisition of technology operations of cb & i . ;
by this time , mcdermott had sold off its 50 percent interest in heeremac . divestment would be another common theme . mcdermott sold off its 50 percent stake in offshore construction company unifab international when the unit went public in september 1997 .
mcdermott began on a much smaller scale . what is now known as mcdermott international originated in 1923 , when 24 - year - old r . thomas mcdermott received a contract to build 50 wooden rigs to drill for oil . the contract came from an east texas wildcatter , or oil prospector . mcdermott asked his father , j . ray mcdermott , to supervise construction of the rigs , and named the business after the elder mcdermott .
what is now known as mcdermott international originated in 1923 , when 24 - year - old r . thomas mcdermott received a contract to build 50 wooden rigs to drill for oil . the contract came from an east texas wildcatter , or oil prospector . mcdermott asked his father , j . ray mcdermott , to supervise construction of the rigs , and named the business after the elder mcdermott .
in acquiring babcock & wilcox , mcdermott became a much larger , diversified company . to reflect its growth , j . ray mcdermott & company became mcdermott inc . in 1980 . in 1983 , with mcdermott
zakher marine international provides services to the offshore oil and gas industries and offshore marine construction companies and is clearly focused on client satisfaction and retention .
zmi ensures that international standards , regulations , alignment with best industry practices and client satisfaction are being met with support of zmi integrated management system .
what is now known as mcdermott international originated in 1923 , when 24 - year - old r . thomas mcdermott received a con - tract to build 50 wooden rigs to drill for oil . the contract came from an east texas wildcatter , or oil prospector . mcdermott asked his father , j . ray mcdermott , to supervise construction of the rigs , and named the business after the elder mcdermott .
the board of directors of us engineering and construction company mcdermott international has approved the spin - off of its wholly - owned power and nuclear engineering subsidiary babcock & wilcox ( b & w ) .
mcdermott international is a provider of integrated engineering , procurement , construction and installation , front - end engineering and design and module fabrication services for upstream field developments worldwide . co . delivers fixed and floating production facilities , pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects . co . supports its activities with project management and procurement services , while utilizing its capabilities in both shallow water and deepwater construction . co . operates across the americas , europe , africa , the middle east , asia and australia . according to our mcdermott international stock split history records , mcdermott international has had 4 splits .
combination of mcdermott and cb & amp ; i expected to be completed later today houston , may 10 , 2018 ( globe newswire ) - - mcdermott international , inc . ( “mcdermott” or the “company” ) ( nyse : mdr ) today announced the completion of the reverse split of its common stock and the expiration and results of its
in 1959 mcdermott acquired dupont fabricators , to supplement the light - fabrication capabilities of mcdermott fabricators . dupont eventually became part of mcdermott fabricators . that same year , mcdermott fabricators created a marine department primarily for the repair of the company
apart from mcdermott international , investors interested in the energy industry may consider stocks like ultra petroleum corp . uplmq , diamondback energy inc . fang and suncor energy inc . su . all these stocks carry a zacks rank # 1
s lake maracaibo . in 1958 mcdermott acquired associated pipeline contractors , to supplement its domestic pipeline business and provide international expansion opportunities . associated pipeline contractors was involved in the laying of large - diameter , cross - country oil and
s leading energy - services companies , is the only marine construction firm with a global operation . what began as an oil - field - services enterprise has evolved into a dual - unit operation that handles not only marine construction services , but also power - generation systems and equipment , serving both domestic and international markets . mcdermott international experienced financial problems in the late 1980s , but began to rebound .
s lake maracaibo . in 1958 mcdermott acquired associated pipeline contractors , to supplement its domestic pipeline business and provide international expansion opportunities . associated pipe - line contractors was involved in the laying of large - diameter , cross - country oil and
area enjoyed an oil boom , and in 1932 j . ray mcdermott & company moved to houston . mcdermott first opened a
“we are honored to welcome tim as head of our international restructuring & insolvency practice , ” said mcdermott co - chair peter j . sacripanti . “tim is considered one of new york’s most highly respected restructuring and bankruptcy lawyers and we are confident that he will help us significantly expand this important practice area . his broad experience advising all participants in high - profile restructuring matters will be extremely valuable to our global clients as mcdermott becomes able to deliver more comprehensive , international service offerings . ”
mcdermott international , inc . and its subsidiaries have operations in three main areas : marine oil field construction , power generation construction services , and management of nuclear power plants and other government projects . its bab - cock & wilcox unit has been hit hard by asbestos - related lawsuits ; this and investigations of mcdermott
houston and the woodlands , texas , may 02 , 2018 ( globe newswire ) - - mcdermott international , inc . ( “mcdermott” ) ( nyse : mdr ) and cb & amp ; i ( nyse : cbi ) today announced both companies have received the necessary stockholder approvals to complete the proposed business combination .
- - - - - - , ' oil stock gushing , but n . o . firm lags ; mcdermott execs still confident , ' times - picayune , october 17 , 1999 , p . f1 . deepwater : marine construction ' s frontier technology , new orleans , la . : mcdermott international , 1985 .
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in the past ten years the zmi has achieved remarkable growth , built new vessel’s to meet the high standards and requirements of local and international clients . zmi currently operate over 35 offshore support vessels .
in the past ten years the company has achieved remarkable growth , has built new vessels and expanded the fleet with younger vessels to meet the high standards and requirements of our local and international clients .
small - cap and large - cap companies receive a lot of attention from investors , but mid - cap stocks like mcdermott international inc ( nyse : mdr ) , with a market cap of us $ 3 . 65b , are often out of theread more . . .
mcdermott international recently reduced its work force at its morgan city fabrication facility , the company spokeswoman said . for 2012 , the company reported $ 3 . 6 billion in revenues with operating income of $ 319 . 3 million and net income of $ 207 . 6 million .
law360 , new york ( may 9 , 2012 , 4 : 39 pm edt ) - - mcdermott will & emery llp has appointed a new international head of its restructuring and insolvency practice as part of an initiative to grow its bankruptcy capabilities worldwide , the firm announced wednesday .
in 1959 mcdermott acquired dupont fabricators , to supplement the light fabrication capabilities of mcdermott fabricators , which eventually absorbed the new unit . that same year , mcdermott fabricators created a marine department primarily for the repair of the company
' pipeline contract gets heat ; n . o . firm is caught up in indonesian dispute , ' times - picayune , june 22 , 1999 , p . c1 . the story of oil and gas offshore , new orleans , la . : mcdermott international , n . d .
in 1957 mcdermott established a subsidiary , j . ray mcdermott ( venezuela ) , c . a . , to fabricate the world ' s first aluminum platforms for the highly corrosive waters of venezuela ' s lake maracaibo . in 1958 mcdermott acquired associated pipeline contractors , to supplement its domestic pipeline business and provide international expansion opportunities . associated pipeline contractors was involved in the laying of large - diameter , cross - country oil and natural gas transmission lines . in 1959 mcdermott sold associated pipeline to reading and bates in exchange for common stock .
mcdermott international , inc . and its subsidiaries have operations in three main areas : marine oil field construction , power generation construction services , and management of nuclear power plants and other government projects . its babcock & wilcox unit has been hit hard by asbestos - related lawsuits ; this and investigations of mcdermott ' s overseas competitive practices helped sour analysts on the company in the late 1990s .
s present headquarters . some years later , mcdermott moved its headquarters to louisiana .
s fortunes had begun to improve . chairman howson consolidated operations , focusing on mcdermott
bwx technologies ; babcock & wilcox ; j . ray mcdermott ; industrial operations .
research reports have been issued by urltoken on four oil and gas equipment and services stocks , namely : liberty oilfield services inc . ( lbrt ) , mcdermott international inc . ( nyse : mdr ) , now inc . ( nyse : dnow ) , and precision drilling corp . ( nyse : pds ) .
in 1959 mcdermott acquired dupont fabricators , to supplement the light fabrication capabilities of mcdermott fabricators , which eventually absorbed the new unit . that same year , mcdermott fabricators created a marine department primarily for the repair of the company ' s heavy construction equipment . the marine department repaired mcdermott ' s own equipment and that of other companies . in 1962 the department became a separate operating division , mcdermott shipyard division .
allswater’s ‘all in’ approach to partnering and working hand - in - hand with their clients ensured the engineering , and more specifically the construction , met the operational considerations , project schedule and budget constraints . all three converted vessels continue to provide offshore construction support to mcdermott international’s offshore projects in the arabian gulf , asia and brazil .
j . ray mcdermott & company went public in 1954 . it was listed on the
the company vied for additional work in government markets . about one - fifth of mcdermott
s business had begun to improve . chairman howson has consolidated operations , focusing on mcdermott
mcdermott also hopes to expand its overseas operations , including those in the pacific rim , where mcdermott began doing business in the mid - 1960s . mcdermott is building boilers in china as part of a joint venture and is involved in offshore marine construction work there .
in april 1997 , mcdermott announced that it was probing serious , yet unspecified allegations of employee misconduct in its international units . share prices fell sharply at the news . three months later , a federal grand jury was investigating anti - competitive activity at j . ray mcdermott and heeremac , a jrm joint venture with the dutch construction company heerema . a joint venture with etpm sa of france was added to the probe in december 1997 .
r . thomas mcdermott died in 1970 , after serving as chairman for nearly 25 years . edward j . hudson succeeded mcdermott as chairman , serving from july 1970 until august 1974 .
mcdermott changed significantly from 1969 to 1979 . mcdermott ' s growth and expansion continued with major acquisitions - - including the babcock & wilcox company , purchased in 1978 . the addition of the established power generation company was mcdermott ' s first diversification outside the marine construction business .
why is mcdermott ( mdr ) up 4 . 4 % since its last earnings report ?
oil stock gushing , but n . o . firm lags ; mcdermott execs still confident ,
mcdermott would like to grow in core - related areas , but it must further reduce debt . the company would like additional work in government markets . about one - fifth of mcdermott
from june 29 to july 6 , oilfield services stock mcdermott international ( mdr ) saw the largest decline on our list of energy stocks . during that period , the vaneck vectors oil services etf ( oih ) fell 0 . 5 % , the second - largest decline among the major energy subsector etfs that we discussed in part 2 of this series .
mcdermott wanted to grow in core - related areas , but it first had to further reduce debt . mcdermott also hoped to expand its overseas operations , including those in the pacific rim , where mcdermott began doing business in the mid - 1960s . mcdermott was building boilers in china as part of a joint venture and was also involved in offshore marine construction work there .
mcdermott wanted to grow in core - related areas , but it first had to further reduce debt . mcdermott also hoped to expand its overseas operations , including those in the pacific rim , where mcdermott began doing business in the mid - 1960s . mcdermott was building boilers in china as part of a joint venture and was also involved in offshore marine construction work there .
: : subsea 7 re - affirms its proposal to acquire mcdermott . says is open to considering amending its proposal if it can discover additional value through discussions with mcdermott management team . mcdermott board rejected subsea 7 ' s unsolicited offer worth about $ 2 billion on april 20 nl8n1s00vg .
mcdermott still performed all facets of marine construction . it took about one year to fabricate a large
mcdermott still performs all facets of marine construction . it takes about a year to fabricate a large
mcdermott international gave allswater the chance to flex their ship conversion muscles with this multi - phase , multi - continent project . three vessels , two cable layers ( emerald sea & agile ) and one platform supply vessel ( thebaud sea ) , were converted into offshore construction vessels . the work was conducted in phases over four years in canada , dubai , singapore and indonesia .
bwx technologies , inc . ; the babcock & wilcox company ; j . ray mcdermott , s . a . ; mcdermott technology , inc . ; hudson products ; delta catalytic ; delta hudson .
in 1953 delong - mcdermott - - a joint venture formed that year by mcdermott and the delong engineering company - - built the first mobile air - jack rig using a jacking , or elevating , device patented by l . b . delong . later in 1953 , delong - mcdermott merged with southern natural gas company to form the offshore company , a drilling contracting firm . mcdermott held a one - third interest in the offshore company . the offshore company became a major competitor of mcdermott in the deep - water drilling business , and mcdermott gradually sold its interest in offshore , completing the divestiture in 1971 .
principal operating units : bwx technologies ; babcock & wilcox ; j . ray mcdermott ; industrial operations .
transmission lines . in 1959 mcdermott sold associated pipeline to reading and bates in exchange for common stock .
sonardyne inc . , houston has supplied acoustically - aided inertial navigation technology for mcdermott’s lay . . .
houston , july 3 , 2018 / prnewswire / - - mcdermott international , inc . ( mdr ) announced today that samik mukherjee has been appointed to serve as the company ' s new executive vice president and chief operating officer ( coo ) , effective july 3 , 2018 .
samik possesses tremendous experience and knowledge of our industry and has a strong track record of driving operational excellence on a global scale ,
said david dickson , president and chief executive officer of mcdermott . as the coo , samik will be responsible for globally leading mcdermott ' s operations covering the four geographic areas .
mcdermott international , once a premier presence in new orleans during the oil and gas industry ' s boom times , will close its last remaining office in the city in october , a company spokeswoman said tuesday . the energy services and engineering firm , following the paths of other local oil and gas companies , moved its corporate headquarters from new orleans to houston in 2005 , significantly shrinking its local footprint .
the management of zakher marine are committed to provide safe and healthy working conditions for our employees and client personnel based on board our vessels . our aim is to sustain safe , environmentally friendly operating practices that comply with applicable national and international codes and regulations , relevant standards , guidelines and client requirements .
over the next two decades the firm expanded , establishing itself in texas and following exploration to southern louisiana . in 1923 j . ray mcdermott & company moved its headquarters from eastland , texas , to luling , texas , after a boom in oil exploration in the area . mcdermott continued to grow during the depression . in the early 1930s the houston area enjoyed an oil boom , and in 1932 j . ray mcdermott & company moved to houston . mcdermott first opened a new orleans , louisiana area office in 1937 & mdashross the mississippi river from mcdermott ' s present headquarters . some years later , mcdermott moved its headquarters to louisiana .
mcdermott ( mdr ) expects to make the final delivery of the shwe gas field development project in 2022 .
mcdermott ( mdr ) intends to include the transportation and installation subcontract in its second - quarter 2018 backlog .
principal subsidiaries : bwx technologies , inc . ; the babcock & wilcox company ; j . ray mcdermott , s . a . ; mcdermott technology , inc . ; hudson products ; delta catalytic ; delta hudson .
mcdermott has been awarded a contract from saudi aramco for engineering , procurement , construction and installation . . .
mcdermott has been awarded a contract from saudi aramco for the engineering , procurement , construction and . . .
houston , july 2 , 2018 / prnewswire / - - mcdermott international , inc . ( mdr ) today announced it has been awarded two sizeable * technology contracts by a subsidiary of pt chandra asri petrochemical tbk , pt chandra asri perkasa , for the company ' s planned new petrochemical complex in indonesia . mcdermott ' s scope of work includes licensing and basic engineering packages for lummus technology ' s olefins technology , including short residence time ( srt® ) ethylene heater design and critical supply , and for butadiene extraction technology .
j . ray mcdermott & company went public in 1954 . it was listed on the new york stock exchange in january 1958 . in 1956 bayou boeuf fabricators became mcdermott ' s fourth division , and the world ' s largest offshore structure fabrication yard . the division ' s name was changed to mcdermott fabricators in may 1958 .
mcdermott still lost $ 10 . 2 million in fiscal 1990 , less than net losses of $ 91 . 7 million in 1989 the year before . the improvement was mainly the result of gains from the sale of mcdermott
in 1950 , to handle numerous customer requests for pipeline construction , j . ray mcdermott & company established a pipeline department . that same year , mcdermott constructed the first gulf of mexico pipeline and also created an oil division .
including the babcock & wilcox company , purchased in 1978 . the addition of the established power generation company was mcdermott
mcdermott has been awarded an offshore pipelay contract in the middle east . the pipelay contract includes the . . .
the company ' s mea segment ' s competitors include hyundai heavy industrial co . ltd . ; larsen and toubro ltd ( india ) ; national petroleum construction company ( abu dhabi ) ; saipem s . p . a . ; technipfmc plc . ; offshore oil engineering co . , ltd . and petrofac international ltd .
s bailey controls operations for $ 295 million and half of its commercial nuclear services operations for $ 51 million to form a new commercial nuclear service joint venture . funds from these sales helped mcdermott reduce short - term debt . mcdermott
mcdermott operates in two business segments , providing marine construction services to the global oil and gas industry for offshore development , drilling , and for production and transportation of oil and gas ; and making power - generation systems and equipment , principally for the utility industry and the u . s . government . mcdermott has operations in more than 30 countries . mcdermott
including the babcock & wilcox company , purchased in 1978 . the addition of the established power - generation company was mcdermott
neptune has been awarded a contract for the provision of 350 concrete mattresses by mcdermott australia pty ltd . . . .
robert howson took over as chairman of the board and ceo in august 1988 . mcdermott had grown since howson , a civil engineer , came to the company in 1957 . although the 1980s were difficult for mcdermott , babcock & wilcox was a bright spot on the mcdermott balance sheet . babcock & wilcox , which offered services such as design , construction , and maintenance of steam - generating equipment , had not had a losing year since its sale to mcdermott and had , in effect , carried the parent company since the early 1980s . for the fiscal year ending march 31 , 1990 , mcdermott
robert howson took over as chairman of the board and ceo in august 1988 . mcdermott had grown since howson , a civil engineer , came to the company in 1957 . although the 1980s were difficult for mcdermott , babcock & wilcox was a bright spot on the mcdermott balance sheet . babcock & wilcox , which offers services such as design , construction , and maintenance of steam - generating equipment , has not had a losing year since its sale to mcdermott and has , in effect , carried the parent company since the early 1980s . for the fiscal year ending march 31 , 1990 , mcdermott
oil states international ( ois ) ranks fourth on our list of the top five revenue growing ofs ( oilfield equipment and services ) companies , according to wall street analysts . in the first quarter , its revenues increased 67 % yoy ( year - over - year ) . from q4 2017 to q1 2018 , its revenues increased 38 % .
in light of the big picture and improving long - term trajectory for the stock , investors shouldn ' t be too worried that shares took a breather for a brief four - week period . mcdermott international has a strong balance sheet and management believes the company is finding its groove again after getting caught off guard by the recent global oil glut . if you liked the offshore oil and gas company before march , then nothing that happened last month should change your mind .
houston , june 4 , 2018 / prnewswire / - - mcdermott international , inc . ( mdr ) today participated in a groundbreaking ceremony on a previously announced ethane cracker project in port arthur , texas , with its customer for the project bayport polymers llc (
bay - pol
) , a joint venture of total petrochemicals & refining usa , inc . , and novealis holdings llc ( a joint venture of borealis ag and nova chemicals inc . ) . mcdermott is also providing the ethylene technology license and will supply srt - iii® ( short residence time ) pyrolysis heaters for the cracker .
. mcdermott , with its floating equipment for marshland work , formed joint ventures and made acquisitions that enabled it to pioneer the construction and installation of platforms and pipelines to support drilling and development near shore . in august 1947 , mcdermott set the world
built the first mobile air - jack rig using a jacking , or elevating , device patented by l . b . delong . later in 1953 , delong - mcdermott merged with southern natural gas company to form the offshore company , a drilling contracting firm . mcdermott held a one - third interest in the offshore company . the offshore company became a major competitor of mcdermott in the deep - water drilling business , and mcdermott gradually sold its interest in offshore , completing the divestiture in 1971 .
s own equipment and that of other companies . in 1962 the department became a separate operating division , mcdermott shipyard division .
. mcdermott , with its floating equipment for marshland work , formed joint ventures and made acquisitions which enabled it to pioneer the construction and installation of platforms and pipelines to support drilling and development near shore . in august 1947 , mcdermott set the world
keppel offshore & marine ( keppel o & m ) will soon deliver a deepwater derrick lay vessel to mcdermott . . .
in 1950 , to handle numerous customer requests for pipeline construction , j . ray mcdermott & company established a pipeline department . that same year , mcdermott constructed the first gulf of mexico pipeline . also in 1950 , the company added an oil division .
in the 1970s new technologies in marine construction permitted offshore structures to grow quickly in size . in 1978 , mcdermott installed shell oil
mcdermott has confirmed the acquisition of the newly - built pipelay and construction vessel amazon to boost its ultradeepwater and surf fleet portfolio .
mcdermott said it is still on track to achieve expected annual cash savings of $ 50 million in 2015 , before restructuring charges .
97 fiscal year , totaling some $ 192 million in the last quarter alone . mcdermott posted a net loss of $ 214 million for the year . the j . ray mcdermott subsidiary lost money because of lower barge use in the gulf of mexico and unfavorable exchange rates . asbestos - related lawsuits were taking a toll on the underinsured babcock & wilcox subsidiary . mcdermott also managed nu - clear power plants ; eight cancer victims filed a lawsuit , later settled , alleging that mcdermott had contaminated them with stray radioactive dust .
the planned spin - off , announced in december 2009 , will be accomplished through a pro rata distribution of shares of b & w to holders of mcdermott common stock . the distribution is expected to take place on 30 july 2010 , with mcdermott stockholders receiving one share of b & w common stock for every two share of mcdermott common stock held at the close of business on 9 july .
s power generation division was showing strong results at the time , though that market would soon flatten in the next two years . mcdermott
mcdermott and nakilat - keppel offshore marine ( n - kom ) , have signed a memorandum of understanding for an exclusive . . .
following the distribution of the b & w common stock in the spin - off - which does not require approval by the mcdermott shareholders - b & w will be a separate , publicly traded company , and mcdermott will not retain any ownership interest in b & w .
in 1949 mcdermott commissioned the world ' s first derrick barge , which was built specifically for offshore use . the barge significantly increased the kind of work that could be performed offshore . by 1953 mcdermott had built another derrick barge , with a lifting capacity of 250 tons .
mcdermott said it plans to upgrade the vessel with a j - lay system , and also to make minor investments to bring the vessel up to company standards . as mcdermott finalizes its upgrade plans , the company plans to use the vessel on existing construction and pipelay projects .
when mcdermott and cb & i announced a new organizational structure and leadership team for the combined company in march , no coo was listed .
in 1978 a federal grand jury returned indictments alleging conspiracy among some officers of mcdermott and of its competitor brown & root to restrain or eliminate competition in marine construction . mcdermott and brown & root each pleaded no contest to the antitrust charges and were fined $ 1 million each .
it was the only worldwide contractor that could handle all phases of the process from beginning to end . mcdermott had constructed most of the world
mcdermott still lost $ 10 . 2 million in fiscal 1990 , up from net loss of $ 91 . 7 million in 1989 , and $ 261 . 7 million in fiscal 1988 . the improvement from 1989 to 1990 was mainly the result of gains from the sale of mcdermott
it is the only worldwide contractor that can handle all phases of the process from beginning to end . mcdermott has constructed most of the world
the video above shows preparation and setup of the ayatsil - c jacket in the bay of campeche , mexico , by mcdermott . . .
: : leading proxy advisory firm iss recommends cb & i ; shareholders vote
for
the proposed transaction with mcdermott . chicago bridge & iron - iss recommended cb & i ; shareholders vote
for
transaction with mcdermott at special general meeting of shareholders on may 2 .
losses mounted through the end of the 1996 - - 97 fiscal year , totaling some $ 192 million in the last quarter alone . mcdermott posted a net loss of $ 214 million for the year . the j . ray mcdermott subsidiary lost money because of lower barge use in the gulf of mexico and unfavorable exchange rates . asbestos - related lawsuits were taking a toll on the underinsured babcock & wilcox subsidiary . mcdermott also managed nuclear power plants ; eight cancer victims filed a lawsuit , later settled , alleging that mcdermott had contaminated them with stray radioactive dust .
mcdermott international is a provider of integrated engineering , procurement , construction and installation , front - end engineering and design and module fabrication services for upstream field developments worldwide . co . delivers fixed and floating production facilities , pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects . co . supports its activities with project management and procurement services , while utilizing its capabilities in both shallow water and deepwater construction . co . operates across the americas , europe , africa , the middle east , asia and australia .
mcdermott still performed all facets of marine construction . it took about one year to fabricate a large - - at least 400 feet high - - fixed offshore platform . although mcdermott had competitors in each segment - - design , engineering , and fabrication - - it was the only worldwide contractor that could handle all phases of the process from beginning to end . mcdermott had constructed most of the world ' s drilling platforms .
in 1978 a federal grand jury returned indictments which alleged conspiracy among some officers of mcdermott and of its competitor brown & root to restrain or eliminate competition in marine construction . mcdermott and brown & root each pleaded no contest to the antitrust charges and were fined $ 1 million each .
with the addition of mr . walsh , mcdermott is also bolstering its offerings to the private equity community . “as we build our international restructuring practice , we will also be able to deliver more holistic services to our private equity clients , such as in - and out - of - court restructurings as a means of facilitating acquisitions as well as dispositions of portfolio companies , ” said david goldman , partner and head of mcdermott’s corporate advisory practice group . “additionally , tim’s background will be of great help to clients of our health industry and energy advisory practice groups — where the impact of increased governmental health - related regulations and evolving world energy strategies are putting particular strain on these industries . ”
with the 1948 purchase of all of the assets of the harry f . allsman company , its joint venture partner for several contracting jobs in the gulf of mexico , mcdermott boosted its efforts in the offshore construction area . this acquisition included equipment assets that helped mcdermott meet the new demand for offshore construction .
with the 1948 purchase of all of the assets of the harry f . allsman company , its joint venture partner for several contracting jobs in the gulf of mexico , mcdermott boosted its efforts in the offshore construction area . this acquisition included equipment assets that helped mcdermott meet the new demand for offshore construction .
robert howson took over as chairman of the board and ceo in august 1988 . mcdermott had grown since howson , a civil engineer , came to the company in 1957 . although the 1980s were difficult for mcdermott , babcock & wilcox was a bright spot on the mcdermott balance sheet . babcock & wilcox , which offered services such as design , construction , and maintenance of steam - generating equipment , had not had a losing year since its sale to mcdermott and had , in effect , carried the parent company since the early 1980s . for the fiscal year ending march 31 , 1990 , mcdermott ' s business overall consisted of about 75 percent power generation work and 25 percent marine construction , compared with about 65 percent and 35 percent , respectively , ten years before .
- - - - - - , ' mcdermott stock decline prompts major changes , ' times - picayune , august 3 , 2000 , p . c1 .
ewing , terzah , ' mcdermott inquiries by grand jury , sec are expanded to a joint venture , ' wall street journal , december 22 , 1997 .
attorneys . mcdermott had bought babcock & wilcox in 1978 and had spent $ 1 . 6 billion since 1982 to settle more than 340 , 000 claims .
public company incorporated : 1946 as j . ray mcdermott & company employees : 30 , 000 sales : $ 2 . 64 billion stock exchange : new york
mcdermott still lost $ 10 . 2 million in fiscal 1990 , less than net losses of $ 91 . 7 million in 1989 the year before . the improvement was mainly the result of gains from the sale of mcdermott ' s bailey controls operations for $ 295 million and half of its commercial nuclear services operations for $ 51 million to form a new commercial nuclear service joint venture . funds from these sales helped mcdermott reduce short - term debt . mcdermott ' s marine backlog - - the number of orders received - - grew two and a half times , from $ 650 million to $ 1 . 6 billion in fiscal 1990 .
following the spin - off of b & w , mcdermott will be focused on the offshore upstream oil and gas market . the company provides front - end design and detailed engineering , construction and installation of offshore production facilities , pipelines and subsea systems . mcdermott ' s customers include national and major oil and gas companies worldwide , and it has a significant presence in the americas , asia - pacific , caspian and middle east markets . mcdermott employs approximately 16 , 000 people worldwide .
houston - based mcdermott posted quarterly net loss of $ 0 . 5 million , or $ 0 . 00 per fully diluted share , compared to . . .
mcdermott’s restructuring & insolvency practice is currently recognized by chambers , plc cross - border and iflr1000 for its outstanding team of more than 40 lawyers around the world .
mcdermott shrank by 57 percent between 1979 and 1988 . most of the employee reductions were made at babcock & wilcox . a number of plants were closed or sold .
- - - - - - , ' mcdermott has tough job ahead , analysts say , ' times - picayune , february 24 , 2000 , p . c1 .
mcdermott shrank by 57 % between 1979 and 1988 . most of the employee reductions were made at babcock & wilcox . a number of plants were closed or sold .
posted on february 21 , 2017 with tags amazon , construction , david dickson , fleet , mcdermott , offshore , pipelay , subsea , surf , ultradeepwater , vessel .
- - - - - - , ' mcdermott says it will post loss , probe wrongdoing , ' wall street journal , april 29 , 1997 , p . c21 .
- - - - - - , ' mcdermott says unit , joint venture are under inquiry , ' wall street journal , july 16 , 1997 , p . b9 .
over the next two decades the firm expanded , establishing itself in texas and following exploration to southern louisiana . in 1923 j . ray mcdermott & company moved its headquarters from eastland , texas , to luling , texas , after a boom in oil exploration in the area . mcdermott continued to grow during the depression . in the early 1930s the
in 1968 the oil and natural gas exploration and production operations handled by the oil division of mcdermott were transferred to a newly formed company , transocean oil . in 1969 mcdermott acquired the stock and subsidiaries of hudson engineering corporation . hudson had a background in petrochemical process engineering and in offshore engineering facilities . another key acquisition during this period was the purchase in november 1971 of ingram corporation ' s foreign marine construction equipment business . this purchase expanded mcdermott ' s operations into three new areas : australia , trinidad , and brazil .
- - - - - - , ' mcdermott shares , units take plunge in wake of probe , ' wall street journal , april 30 , 1997 , p . b7 .
judice , mary , ' merger of n . o . firms likely ; mcdermott deal awaiting ok , ' times - picayune , may 8 , 1999 , p . c1 .
the company vied for additional work in government markets . about one - fifth of mcdermott ' s business in fiscal 1989 was government related . during the early 1990s a continued shortage of equipment propelled a surge in power equipment sales . mcdermott expected its boiler business to expand significantly between 1990 and 2000 . babcock & wilcox was the nation ' s top boilermaker .
- - - - - - , ' mcdermott earnings take dip ; weak oil market means job cuts , ' times - picayune , january 28 , 1999 , p . c1 .
- - - - - - , ' mcdermott moves to simplify ; ceo seeks respect on wall street , ' times - picayune , may 16 , 1999 , p . k19 .
- - - - - - , ' mcdermott reports strong profit , but low oil prices slowing business , ' times - picayune , october 31 , 1998 , p . c1 .
- - - - - - , ' mcdermott stock takes a plunge ; asbestos scare hurts market confidence , ' times - picayune , november 13 , 1999 , p . c1 .
- - - - - - , ' mcdermott subsidiary declares bankruptcy ; babcock & wilcox cites asbestos litigation , ' times - picayune , february 23 , 2000 , p . c1 .
mcdermott ' s real strength in marine construction lay in its fleet of very powerful offshore equipment , which allowed more work to be completed onshore . with 200 vessels , mcdermott had the largest fleet of marine equipment used in major offshore construction . technological advances have paved the way for diversification in marine construction for mcdermott , which had long constructed high - horsepower tugboats , pushboats , and offshore supply vessels . it branched into the construction of ships for the u . s . navy , including prototype small waterplane area twin hull ships and torpedo test craft .
biers , john m . , ' asbestos news jolts stock by 25 percent ; mcdermott could face more claims , ' times - picayune , november 12 , 1999 , p . c1 .
- - - - - - , ' mcdermott merger falls through ; parent , subsidiary stocks fall on news , ' times - picayune , april 21 , 1999 , p . c1 .
over the next two decades the firm expanded , establishing itself in texas and then moving to south louisiana when exploration headed in that direction . in 1923 j . ray mcdermott & company moved its headquarters from eastland , texas , to luling , texas , after a boom in oil exploration in that area . mcdermott continued to grow during the depression . in the early 1930s the
in 1968 the oil and natural gas exploration and production operations handled by the oil division of mcdermott were transferred to a newly formed company , transocean oil . in 1969 mcdermott acquired the stock and subsidiaries of hudson engineering corporation . hudson had a background in petrochemical process engineering and in offshore engineering facilities . another key acquisition during this period was the purchase in november 1971 of ingram corporation
healthy relationship with national oil companies : mcdermott has got significant presence in countries where state - owned entities continue to scout for production growth and new resources . this helps the company to notch up contract wins regularly even in a low commodity price environment . saudi aramco - saudi arabia ' s national oil company - alone makes up more than a fourth of mcdermott ' s total revenue .
margin improvement : the past few recent quarters saw mcdermott improve its gross margin consistently , highlighting the company ' s success in cost restructuring programs and excellence in project execution in this difficult environment .
a leading provider of offshore services : mcdermott is a leading global engineering and construction firm that has a diversified product portfolio , specialty manufacturing and service capabilities , and proprietary technological expertise . unlike other engineering and construction companies , mcdermott is well - entrenched in major offshore energy projects and is one of the few global contractors that can provide a complete array of services - from design to construction .
in 1968 the oil and natural gas exploration and production operations handled by the oil division of mcdermott were transferred to a newly formed company , transocean oil . in 1969 mcdermott acquired the stock and subsidiaries of hudson engineering corporation . hudson had a background in petro - chemical process engineering and in offshore engineering facilities . another key acquisition during this period was the purchase in november 1971 of ingram corporation