Cosalt still in funding talks
Engineering firm Cosalt suspended its shares yesterday after failing to publish its annual accounts.
offshore division
Buzzard living quarters contract goes to Teesside
A contract to build new living quarters for Nexen's Buzzard platform in the North Sea has gone to a yard on Teesside, England.
Boss fails to win backing to delist firm
Engineering firm Cosalt will remain publicly listed after chairman David Ross's proposal to take it private was narrowly defeated yesterday.
Kongsberg to boost staffing at new base
Global marine technology company Kongsberg Maritime announced plans yesterday to expand its workforce when it relocates to larger premises in the north-east.
Cosalt better off private – says CEO
The chief executive of Cosalt said yesterday he wanted the company to return to private hands, but added he was confident in the future of the firm even if it remained listed.
Chairman accused of trying to buy Cosalt on the cheap
Some Cosalt shareholders have accused company chairman David Ross of trying to take ownership of the business at a discount price.
Chairman confident of taking Cosalt off exchange
The chairman of Cosalt said last night he was confident the company would return to private ownership after revealing he had control of more than half its shares.
Cosalt gets £5m lifeline
TROUBLED engineering firm Cosalt said yesterday it had received a £5million loan from David Ross to keep it afloat while shareholders considered the non-executive chairman's takeover offer.
Cosalt jobs safe for now while shareholders mull buyout offer
The imminent threat to 250 Aberdeen jobs at troubled engineering firm Cosalt has been lifted after the company's potential new owner said operations would continue for at least another three weeks.
Cosalt shares plummet after warning
OIL and gas industry firm Cosalt saw its shares plummet 57% to just 0.7p yesterday after it said full-year trading would be significantly lower than expected.
Cosalt geared-up for fresh start
Cosalt said yesterday it was ready for a fresh start after clearing most of its debts and recruiting a new senior management team.
Safety winners announced at annual ceremony
MEMBERS of the North Sea chapter of the International Association of Drilling Contractors (IADC) gathered to celebrate the success of contenders, runners-up and winners at their annual dinner and safety-awards ceremony in Aberdeen.
Certex to launch offshore division
CERTEX International - the largest distributor of lifting products and services in Europe, which has a base in Aberdeen - is launching a new offshore division that will give its customers access to a wider range of products and services.
Offshore workers ‘eyes and ears’ of industry
EVERYONE working in the offshore oil industry has a part to play in driving up safety standards, delegates at a conference in Edinburgh were told yesterday.