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HALLIBURTON COMPANY AND SHAW INDUSTRIES LTD. ANNOUNCES INVESTMENT BY BREDERO-SHAW IN GULF OF MEXICO INTEGRATED DEEPWATER FACILITY
Dallas, TX and TORONTO - Halliburton Company (NYSE: HAL) and Shaw Industries LTD. (TSE: SHL.A, SHL.B) announced that their joint venture entity, Bredero-Shaw, will invest U.S. $30 million in an integrated pipecoating and fabricating facility near Mobile, Alabama. The facility will serve the offshore deepwater markets and is scheduled to open in early 2001.
Bredero-Shaw is the world's leading pipeline coatings solutions provider, and the Mobile, Alabama deepwater base represents the largest single investment in the history of Bredero-Shaw.
This unique deepwater base will allow direct access for the largest ocean going delivery and lay vessels. Utilizing fully automated process technologies, the facility will guarantee the highest quality and throughput in the production and load-out of single or multi-jointed pipe sections.
The facility will supply traditional corrosion and concrete weight coatings, as well as a range of new deepwater products such as single and dual-pipe insulation, buoyancy systems, custom coating and field jointing systems. To augment these products, high capacity automated fabrication and handling facilities utilizing the highest quality welding, inspection and traceability systems will also be installed.
Bredero-Shaw is combining their global experience from 32 plants currently operating in 16 countries to create a single facility capable of providing turnkey subsea flowline and export line solutions in and beyond the Gulf of Mexico.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, energy equipment, construction, and maintenance company. In 1999, Halliburton's consolidated revenues were $14.9 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries.
Shaw Industries Ltd. is a major supplier to the energy industry providing products and services for exploration and production, pipeline, petrochemical and industrial markets. The company operates through seven wholly owned divisions and its 50/50 joint venture with Halliburton Company in Bredero-Shaw. The company's World Wide Web site can be accessed at www.shawcor.com.
Contact
Wendy Hagan
wendy.hagan@halliburton.com
Halliburton Company
Public Relations
(p) 713.676.5619
Brian Conroy
brian.conroy@shawind.com
Shaw Industries LTD.
(p) 416.744.5787
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