Clough Marine Construction Business
6 July 2011
Further to the article in today’s Financial Review, engineering and construction company Clough Limited (ASX:CLO) confirmed that it is currently in discussions with SapuraCrest Petroleum Berhad (SapuraCrest) regarding its Marine Construction business. These discussions may result in a sale transaction, cooperation and/or other business arrangement.
Whilst the parties continue to make good progress with their discussions, no binding arrangements have been entered into and there is no assurance that any transaction will ultimately be agreed or consummated with SapuraCrest or any other company.
Clough will provide further updates to the market on these discussions as appropriate.
Ends
For further information, please contact:
John Smith, Chief Executive Officer +61 8 9281 9407
Neil Siford, Chief Financial Officer +61 8 9281 9373
Kristy McGrath, Marketing & Communications Manager +61 8 9281 9344/ 0417 451 724
About Clough
Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service primarily to oil and gas projects in Australia, South East Asia and the USA. The Group's services range from concept development through design, construction, installation, commissioning, operations and maintenance.
Backed by an experienced management team, over 3,000 personnel around the world and sophisticated project management systems, we are recognised for our commitment to safety, sustainable development and the wellbeing of the people, communities and environments in which we operate.