LNG and energy engineer McDermott is back on financial track with significant backlog to work on
McDermott International, one of the leading US LNG and energy project contractors, has successfully completed its restructuring process several months after plunging into Chapter 11 bankruptcy status and later emerging with assets sales to raise cash and re-assure creditors.
McDermott reports progress on three US LNG projects amid third-quarter $1.9Bln loss
McDermott International, the energy and LNG engineering company, reported progress on three US LNG export projects and with other orders pending as it also registered third-quarter losses of $1.9 billion in the midst of a corporate overhaul and asset sales.
McDermott takes big hits from Louisiana and Texas LNG and Pennsylvania power projects
McDermott International, the energy and LNG engineering company, posted fourth-quarter earnings seriously impacted by $2.2 billion in charges and other items related to the Cameron LNG and Freeport LNG projects in Louisiana and Texas and the Calpine gas-fired power venture in Pennsylvania.
US engineer McDermott plans to sell LNG storage tanks business and US pipelines unit
McDermott International, the energy and liquefied natural gas project engineer, has completed a strategic review of its portfolio and has decided to spin-off and sell its LNG tanks business and its US pipe fabrication unit.
