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02Aug91 UK: WIMPEY PULLS OUT OF NORTH SEA CONTRACTING MARKET.

The UK's conquest of the North Sea owed much to the skill of the contractors which built the rigs and platforms, but never reaped the riches of the oil companies. Davy's current problems merely underline that this has always been a tough market.All the same, the timing of the news that Wimpey is pulling out of the North Sea contracting market by selling its stake in Hi Fab for a reputed £5-6 million looks odd. There is also a strong feeling that an era has ended for the UK's contracting ...

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