LAM.L Share News (LAM)

LAM.L Information

There is currently no data for LAM

Lamprell sells Middle East oil services business for $3m

Tue, 02nd Dec 2014 07:54

Oil services group Lamprell is off-loading a non-core Middle East service business for $3m.Lamprell is selling Litwin PEL, an engineering and contracting company that serves the oil and gas, chemical and petrochemical industries in Abu Dhabi, to the Nauvata group of companies.The sale of Litwin, which made losses of $5.3m in 2013, is part of a review by Lamprell of certain service operations that do not form part of its core business."The group will continue with its process to dispose of the other non-core service businesses, but only if acceptable terms can be obtained and subject to board approval," Lamprell said in a statement. Lamprell plans to use the cash from the sale to support general working capital requirements on its core business.

More News

3 May 2016 14:44

EXTRA: Lamprell Fails To Find New Chief After Nine Months Of Searching

3 May 2016 06:56

Lamprell Chairman, CEO To Remain Until End 2016; Jobs To Be Cut

29 Mar 2016 13:52

Broker tips: Next, Lamprell, Hansteen

(ShareCast News) - Deutsche Bank upgraded Next to 'buy' from 'hold' but cut the price target to 6,850p from 7,200p following the company's full year results last week. It said the 15% drop in the share price leaves Next on a 7% discount to the sector which seems like an over-reaction. DB said that

29 Mar 2016 09:17

Lamprell slides on Canaccord downgrade

(ShareCast News) - UAE-based oil rig maker Lamprell was under the cosh after Canaccord Genuity cut its rating on the stock to 'hold' from 'buy' and slashed the price target to 95p from 150p saying the company's transformation has stalled. The brokerage said that while there is a large medium-term op

29 Mar 2016 08:31