McDermott – CB&I Deal Obtains US Regulatory Clearance

first_imgMcDermott and CB&I said that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to their proposed combination.As previously announced on December 18, 2017, McDermott and CB&I have agreed to combine in an all-stock transaction to create a vertically integrated onshore-offshore company with an enterprise value of approximately $6 billion.Under the terms of the proposed combination, upon completion, McDermott stockholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47 percent.Following completion of the transaction, the combined company will be headquartered in the Houston area. David Dickson, current president and chief executive officer of McDermott, will be president and chief executive officer of the combined company.The combination remains subject to regulatory clearance in Russia, approval by McDermott’s and CB&I’s shareholders, completion of financing and other closing conditions.last_img read more

TenneT Picks ELA Containers for German Offshore Platforms

first_imgTenneT has awarded ELA Container Offshore with a framework contract for the supply of accommodation containers on four HVDC converter platforms in the German North Sea.Under the contract, the company will supply a minimum of 40 ELA Premium Plus containers.ELA Offshore is also in charge of providing all fire protection concepts, including the integration of escape routes and the installation of lightning protection equipment.“In addition to the units we will be also responsible for the design, build and installation of several steel frames to connect the containers to the platform, as well as the laying of pipes for fresh and waste water and all necessary power and signal cables,” said Gerrit Ahlers, Project Manager at ELA Container Offshore.According to ELA Offshore, the contract was secured as part of an EU tender and represents continued cooperation with TenneT.last_img read more

‘Child Slavery Is Rampant in Liberia’

first_img2014 Noble Peace Laureate Saryarthi. — Observes 2014 Nobel Peace Laureate Saryarthi The 2014 Nobel Peace Laureate, Kailash Satyarthi , says Liberia is experiencing an influx of child labor and child slavery, which he stressed the need for the government to take urgent approach to tackle the growing practices.Satyarthi said child labor is rampant in Liberia, and it requires political and religious priorities to find solution.In 2014, Kailash Satyarthi was awarded the Nobel Peace Prize jointly with Malala Yousafzai, for their struggle against the suppression of children and young people, and for the right of all children to education.The Indian Nobel Peace Laureate made the disclosure on Monday, December 2, when he interacted with students of the Aware International School, an Indian-run institution on GSA Road in Paynesville, outside Monrovia.Satyarthi is in the country as a guest of the Gbowee Peace Foundation Africa, to share his experiences with Liberian children at a program marking the Youth Leadership Peace Jam.He said that workable solutions will be in sight when government and other stakeholders, including the parents, prioritize collectively to fight the growing epidemic before the country can receive donor support in the fight against child slavery and child labor.“The denial of childhood is the biggest crime against humanity,” Satyarthi said.“Your government needs to act now, because this situation needs urgent solution. Your young girls are getting too much involved with prostitution, and others have been used to sell on the street, and some have been victims of illicit drugs trafficking,” Satyarthi told the students.Nobel Peace Laureate, Saryarthi Kailash, with kids at Aware Int’l SchoolThe Indian Nobel Peace Laureate used the occasion to remind stakeholders, including parents to encourage their children to be focused on their education that would make them productive and peaceful citizens.“It is now time that government focuses its policy on the protection of children that will give them a better future,” The visiting Indian Nobel Peace Laureate suggested.Satyarthi continued, “Faith-based institutions should also joins hand with government to campaign against child slavery and labor.”Kailash Satyarthi was born in the Vidisha district of Madhya Pradesh in India. After completing an electrical engineering degree, he worked as a teacher in the area. In 1980, he left teaching and founded the organization Bachpan Bachao Andolan, which has freed thousands of children from slave-like conditions. He has also been active in a wide range of other organizations working against child labor, and for children’s rights to education. He is married and has a son and a daughter.Much of the world’s population, especially in poor countries, is made up of children and young people. To achieve a peaceful world, it is crucial that the rights of children and young people be respected. Following the tradition of Mahatma Gandhi, Indian activist Kailash Satyarthi has waged a peaceful struggle to stop children being exploited as labor instead of attending school. He has also contributed to the development of international conventions on the rights of children.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more