Polarcus Announces Further Cost Reductions and Organizational Changes
Polarcus further improves its cost position with the announcement of additional headcount reductions and changes to the executive management team. The expanded cost reductions are part of a longer term plan which will continue to improve competitiveness while maintaining exceptional operational performance and sustaining positive operational cash flow. The plan …
Polarcus: Third quarter 2015 Report – Performing in a Weak Market
Polarcus Limited announces the release of its third quarter 2015 financial statements. Highlights in the third quarter 2015: – Revenues of USD 132.2 million, up 44% from Q2 2015 – EBITDA of USD 69.6 million, up 81% from Q2 2015 with increased margin to 53%, up from 42% – Cash …
Polarcus Signs 2016 Vessel Charter Agreement with TGS
Polarcus Limited is pleased to announce that the Company has signed a Letter of Intent (“LOI”) with TGS-NOPEC Geophysical Company ASA (“TGS”) for the charter of an estimated six months of 3D vessel capacity from Polarcus in 2016 in order to acquire a number of individual projects in line with …
Polarcus: Rod Starr Assumes Role of Chief Executive Officer
Reference is made to the stock exchange notice published by Polarcus Limited on 11 January 2015 regarding the appointment of Rod Starr as the next Chief Executive Officer of Polarcus. The Company is pleased to announce that effective today, Rod Starr has assumed the role of Chief Executive Officer of …
Polarcus: Rod Starr to Succeed Rolf Ronningen as Chief Executive Officer
Polarcus Limited announces that the Board of Directors has, following a comprehensive selection process, chosen Rod Starr to succeed Rolf Ronningen as Chief Executive Officer of Polarcus. Rolf Ronningen, who informed the Board of his planned retirement in 2014, will continue as Chief Executive Officer until Rod takes up his …