DSI had revenues of $12.4 million for the year ended December 31, 2003, and net asset value at completion was $4.0 million. DSI will continue to be led by Phillip Landry, president, and David Landry, vice president. DSI employs approximately 150 personnel and will operate within Wood Group's Engineering and Production Facilities division.
'DSI's commissioning service is an excellent strategic fit between Wood Group's engineering design and construction management capabilities and our facilities operations and maintenance services,' stated Les Thomas, chief executive of Wood Group's Production Facilities activities. 'DSI holds an extremely strong position within the Gulf of Mexico deepwater commissioning market and has the potential to grow internationally.'
'We're very excited to be joining Wood Group,' stated Phillip Landry. 'The ability to leverage the Group's infrastructure and access to international markets provides DSI with significant potential for growth.'
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