Acergy

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Acergy M.S. Limited

Type	Public
Founded	1970
Headquarters	Sunbury-on-Thames, United Kingdom
Key people	Tom Ehret (CEO)
Industry	Petroleum
Products	Engineering and Construction
Revenue	USD 1,483.3 million (2005)
Operating income	USD 152.0 million (2005)
Net income	USD 106.4 million (2005)
Website	www.acergy-group.com

Acergy (OSE: ACY, NASDAQ: ACGY) is an international offshore seabed to surface engineering and construction company previously know as Stolt Offshore and Stolt Nielsen Seaway and was part of the Stolt-Nielsen Group until 2005. The company has its headquarters in Sunbury-on-Thames in the United Kingdom as well as offices in Stavanger, Norway; Aberdeen, United Kingdom; Suresnes, France; Houston, United States; Rio de Janeiro, Brazil and Singapore. The company is listed on the Oslo Stock Exchange and NASDAQ.

The company has four main operational areas: Subsea Umbilical Risers and Flowlines (SURF); Inspection, Maintenance and Repair (IMR); Conventional Field Development and Trunklines.

[edit] History

The company started as the Haugesund based Stolt Nielsen Seaway and offered divers for the exploration of the North Sea in 1970. The company was part of the Stolt-Nielsen Group. In 1989 the company expanded to Aberdeen, United Kingdom and in 1992 the company acquired the French diving company Comex Services. In 1997 the company won its first ultra-deepwater contract off West Africa, resulting in the acquisition of Houston based Ceanic Corporation, Danish NKT Flexibles and ETPM of France.

In 2000 the company changed its name to Stolt Offshore. But poor management forced the company to narrow its focus and a new management was introduced in 2003. In 2005 the Stolt-Nielsen Group sold its ownership in the company and listed it on the Oslo Stock Exchange and NASDAQ. As of March 1, 2006 the company changed its name to Acergy.