McDermott International Contracts with New Wave Energy on Project Traveler
McDermott International, Inc. (MDR) announced on December 12 that the company received a sizeable contract award. Under the terms of the contract, McDermott will share its proprietary Dimer® process with Next Wave Energy Partners. Next Wave Energy’s grassroots alkylate production facility, known as Project Traveler, will use McDermott’s unique ethylene dimerization process.
Jet Equities sent an alert to subscribers at 6:55 am. The last trade took place the previous day at 6:55 pm for $0.77. McDermott International’s stock price increased slowly over the next few days before closing at $1.09 on December 18. That makes a five-day event gain of 41.6%.
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