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November 16, 2010

Ezra buys Houston fabrication facility

Singapore's Ezra Holdings is expanding its capabilities in the Gulf of Mexico. It has just announced the purchase of a fabrication yard in Houston.

Ezra says the move complements its proposed $250 million acquisition of Aker Marine Contractors, an established SURF and floater installation company that also has a center of excellence in Houston through which operations in the Gulf of Mexico are supported.

Ezra says that its latest buy is a "well-equipped 650,000 square feet fabrication facility in Houston," acquired through newly formed subsidiaries Ezram Properties LLC and Ezram Enterprise LLC.

Mr. Lionel Lee (Ezra's Managing Director said: "The new Houston base will allow us to quick start our drive into the engineering and fabrication market in the Americas and Europe. Armed with our other facility in Vietnam, Ezra is now able to quickly respond to clients' needs worldwide, further strengthening our competitive edge in the offshore O&G market."

Ezra says the deal was concluded at "distressed prices" and gives it the ability to fabricate customized cranes that "meet the stringent requirements of the modern offshore O&G fleet, adding to the Group's already wide product offering."


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