Sevan buys process specialist

Floating production specialist Sevan Marine is set to acquire 100% of the shares of Mator.

Offshore staff

PORSGRUNN, Norway --Floating production specialist Sevan Marine is set to acquire 100% of the shares of Mator. The latter provides services in primary separation, gas handling, and water treatment.

Mator's clients include BP, ConocoPhillips, Hydro, and Statoil, as well as Sevan. Assuming the cash/share transaction goes through, certain Mator employees will stay on for a minimum period.

06/27/2007

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