Page 13: of Maritime Reporter Magazine (November 1986)

W.J. Holcombe Elected

Chairman And CEO Of

Transamerica Delaval

McDermott Gets Contracts

Valued At $15 Million To

Install Offshore Structures

McDermott International, Inc. has signed contracts worth a total of approximately $15 million (11 mil- lion pounds sterling) with Conoco (U.K.) Limited, to install offshore facilities for the Southern Basin Gas

Development in the British sector of the North Sea in 1987 and 1988.

The contracts call for 1987 instal- lation of the production, accommo- dations, and wellhead jackets, as well as link frames on the produc- tion and accommodations platforms and decks for the three wellhead jackets. In March 1988, the produc- tion deck, accommodations deck, and the Vulcan 2 jacket and produc- tion deck will be installed.

The 1988 work will be performed by McDermott's Derrick Barge 102, the world's largest semisubmersible derrick barge. During this opera- tion, the DB102 will perform the heaviest single crane installation when it installs a 4,000-ton (metric) production deck. This huge crane can perform tandem lifts of up to 12,000 metric tons.

Installation engineering work will be performed by McDermott Engi- neering London, a division of

McDermott International. McDer- mott Europe Marine Services, Ltd., also based in the U.K. will provide management services for the proj- ect. •A

William Holcombe

William J. Holcombe has been elected chairman and chief execu- tive officer of Transamerica Delaval

Inc., the manufacturing subsidiary of Transamerica Corporation. An- nouncement of Mr. Holcombe's election was made by Transamerica

Corporation chairman and chief ex- ecutive officer James R. Harvey.

As chief executive officer, Mr.

Holcombe succeeds Truman W.

Netherton, who continues as

Transamerica Delaval's president.

Mr. Holcombe was president and chief executive officer of Trans- america Delaval—then Delaval

Turbine Inc.—from 1965 to 1972.

He joined the company in 1960.

From 1972 to 1975 he was group vice president, manufacturing, of Trans- america Corporation. Most recently, he has been chairman of Teton Inc., a manufacturing company head- quartered in Santa Fe Springs,

Calif.

Transamerica Corporation has announced plans to divest Trans- america Delaval Inc. as part of a long-term strategic decision to focus on its insurance and financial ser- vices businesses. The divestiture of the manufacturing company will be accomplished either through a sale to a third party or through a spin-off to Transamerica Corporation's shareholders.

Headquartered in Lawrenceville,

N.J., Transamerica Delaval Inc. is an integrated manufacturing com- pany focusing on instruments and controls, engineered products and services for industrial and military customers. The company has 14 di- visions operating in North America and Europe. In 1985, it reported income of $8 million on revenues of $392.9 million.

Mitsubishi To Construct

Two 68,000-Dwt Tankers

For Chevron Shipping

Japan's Mitsubishi Heavy Indus- tries and Chevron Shipping Co. have signed a contract under which the yard will build two new 68,000- dwt tankers for the Chevron Corpo- ration subsidiary.

The new vessels will replace up to five older ships in use in lightering service and will bring about savings in turnaround time and crew sizes, according to Doug Wolcott, presi- dent of Chevron Shipping.

Mitsubishi's Nagasaki yard will build the new vessels, which are scheduled for delivery in 1988.

November, 1986 fSH; r i

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