Wellstream

Wellstream

Infobox_Company
company_name = Wellstream Holdings plc
company_
company_type = Public (LSE|WSM)
foundation = 1983
location = Newcastle upon Tyne, United Kingdom
key_people = John W. Kennedy (Chairman of the board), Gordon Chapman (CEO)
industry = Engineering
products = Flexible risers and pipelines
revenue = £266.8 million (2007)cite web |url=http://www.wellstream.com/investors/download.php?docid=25 |title=Annual Report 2007 |accessdate=2008-08-10 |publisher=Wellstream]
operating_income = profit £47.6 million (2007)
net_income = profit £29.0 million (2007)
num_employees = 950 (2007)
homepage = [http://www.wellstream.com/ www.wellstream.com]
intl = yes

Wellstream International Limited (LSE|WSM) is a British company which designs and manufactures flexible pipeline systems for the oil and gas industry. The shares of its holding company, Wellstream Holdings plc, are listed on the London Stock Exchange and it is is a member of the FTSE 250 Index. The company is based in Newcastle upon Tyne, with major manufacturing facilities also located in Panama City, Florida, USA and Niterói, Brazil. The chief executive is Gordon Chapman.

History

The company was founded in Panama City, Florida in 1983 as a supplier of equipment to offshore developers. Wellstream was acquired by Dresser Industries in 1995 and subsequently became part of Halliburton when it merged with Dresser in 1998. Halliburton sold off Wellstream to a Candover-led consortium for $136 million in 2003, [cite news|url=http://www.thedeal.com/servlet/ContentServer?pagename=TheDeal/TDDArticle/TDStandardArticle&bn=NULL&c=TDDArticle&cid=1047380098768|title=Candover buys Halliburton unit|last=Poole|first=Claire|date=11 March 2003|work=The Deal|accessdate=2008-08-10] which in turn listed the firm on the London Stock Exchange in April 2007. [cite news|url=http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAOkYnfN523I|title=Candover, HBOS Raise 126.4 Million Pounds in Wellstream's IPO|last=Evans|first=Edward|date=April 26, 2007|work=Bloomberg|accessdate=2008-08-10] Candover remained Wellstream's largest shareholder with an approximate 14% stake until April 2008, when the block of shares was put up for sale in its entirety. [cite news|url=http://www.cityam.com/index.php?news=11122|title=Candover sells 13.83% Wellstream stake|date=8 April 2008|work=City A.M.|accessdate=2008-08-10]

References

External links

* [http://www.wellstream.com/ Official site]


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