02 March 2001
02 March 2001
RPC, Inc. announced the completion of the tax-free spin-off of Marine Products Corporation.
Marine Products is now an independent public company whose stock is trading on the American Stock Exchange under the symbol ""MPX."" Marine Products owns and operates the assets that formerly comprised RPC's recreational powerboat manufacturing business segment.
Atlanta-based RPC, Inc. ( http://www.rpc.net ) provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States. Marine Products will also be headquartered in Atlanta, Georgia. Marine Products' wholly owned subsidiary, Chaparral Boats, Inc. (http://www.chaparralboats.com) is the third largest domestic manufacturer of sterndrive fiberglass recreational boats. Chaparral is recognized as one of the leading boat builders in the United States
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