McDermott Divests Pipe Fabrication Business

Ithaca Acquisition Holdings reported Tuesday that it has completed its acquisition of the former pipe fabrication assets of The Shaw Group from McDermott International, Inc.

“We saw this as a great opportunity to partner with an experienced investor group to acquire the former Shaw Group pipe fabrication portfolio and bring these assets back to the market after being used for proprietary projects for the last several years,” Ithaca Chairman Jim Stephenson commented in a written statement emailed to Rigzone.

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