Seamark Systems changes to Foundocean

The two divisions are: SeaMark Systems, a provider of offshore oil and gas services and SeaMark Geotechnical, a provider of onshore geotechnical and civil engineering services. From September the offshore division will be rebranded FoundOcean and the onshore division will be rebranded Consolidate.

The demerger process will be completed in January 2006 with both FoundOcean and Consolidate trading as independent companies.