SBM Offshore N.V.

amsterdam : SBMO


November 29, 2012 01:41 ET

SBM Offshore: Closing of sale of GustoMSC

SCHIEDAM, NETHERLANDS--(Marketwire - Nov 29, 2012) - SBM Offshore has completed the divestment of GustoMSC

SBM Offshore is pleased to announce that the sale of GustoMSC, its non-core design and engineering subsidiary, became unconditional on 28 November 2012 and that the approximate $185 million transaction with Parcom Capital has been completed.

SBM Offshore in The Netherlands now exclusively focused on FPSOs

The sale of GustoMSC is a further step in enabling SBM Offshore to pursue its FPSO-driven strategy, allowing its Dutch execution centre in Schiedam to focus exclusively on FPSOs and FPSO-related products.

Over the years this execution centre has developed a world-renowned track record in designing FPSOs for the Brazilian market, notably with the ground-breaking FPSO Espadarte in 2000.

Over the last decade it has developed into a fully equipped execution centre with approximately 550 staff, with capacity to design two FPSO projects simultaneously. The FPSO projects Paraty and Ilhabela, both for client Petrobras, are currently being designed out of the SBM Schiedam office.

Bruno Chabas, CEO of SBM Offshore commented: "The sale of GustoMSC closes a chapter in our history and our past association with shipbuilding. Significantly, our Schiedam execution center, home to an innovative engineering skills base within the Company, can now focus fully on what we do best: FPSOs."

To see the complete version of this press release, please click on the link below.

SBM Offshore Press Release: http://hugin.info/130754/R/1661221/538144.pdf

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Source: SBM Offshore N.V. via Thomson Reuters ONE

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