ALU not selling Submarine
Unit
I am guessing the bids on the Table were not what ALU was
looking for. I also am guessing that this division is a money
loser, as most of its business nowadays is probably repair and
replace under sea fiber optic, Hence the stated desire back in July
2014 to add oil and gas exploration, of course we know what
happened to oil and gas since. Unlucky timing.
That said, I am sure the unit will
eventually be sold when the oil
and gas business mends some, as it is not a core business
unit.
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