Dutch floating production specialist SBM Offshore reported Thursday that it is now "exclusively focused" on FPSO (floating production, storage and offloading) vessels after having completed the sale of its GustoMSC subsidiary.
The sale, announced Nov. 12, of the design and engineering subsidiary to Parcom Capital for $185 million cash means that SBM is now able to concentrate on FPSOs and FPSO-related products, it said.
Over the past decade, SBM has developed a fully-equipped execution center with approximately 550 staff that it says has the capacity to design two FPSO projects simultaneously.
In a statement Thursday, SBM CEO Bruno Chabas 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."
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