Engineering firm Cosalt suspended its shares yesterday after failing to publish its annual accounts.
A contract to build new living quarters for Nexen's Buzzard platform in the North Sea has gone to a yard on Teesside, England.
Engineering firm Cosalt will remain publicly listed after chairman David Ross's proposal to take it private was narrowly defeated yesterday.
Global marine technology company Kongsberg Maritime announced plans yesterday to expand its workforce when it relocates to larger premises in the north-east.
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.
Some Cosalt shareholders have accused company chairman David Ross of trying to take ownership of the business at a discount price.
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.
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.
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.
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 said yesterday it was ready for a fresh start after clearing most of its debts and recruiting a new senior management team.
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 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.
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.