þ | No fee required. | |
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
1) | Title of each class of securities to which transaction applies: | ||
2) | Aggregate number of securities to which transaction applies: | ||
3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | ||
4) | Proposed maximum aggregate value of transaction: | ||
5) | Total fee paid: | ||
o | Fee paid previously with preliminary materials. | |
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
(1) | Amount Previously Paid: | ||
(2) | Form, Schedule or Registration Statement No.: | ||
(3) | Filing Party: | ||
(4) | Date Filed: | ||
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NOTE: | The responses contained within this document are provided in the context of the announced merger between Pride and Ensco being finalized in 2011. |
Page | ||||
New FAQs |
2 | |||
Previously posted FAQs |
||||
General Merger Questions |
5 | |||
Personnel & Staffing |
9 | |||
Benefits & Compensation |
11 | |||
Systems & Process |
15 |
Employee Merger Questions | Page 1 |
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Mar. 11 | What will the training strategy of the combined company be,
and will the combined company use and develop the Lescar
training center? |
|
Ensco currently outsources most technical training and will
need time to fully evaluate the Pride training facilities and
processes in order to make a determination regarding a plan
going forward. However, training will be a very important
part of the new Ensco organization. |
||
Mar. 11 | How will the composition of the merger integration teams be
managed? Who will decide team members? |
|
How the integration teams will be managed or who the
participants will be has yet to be determined at this point. |
Mar. 11 | Does Pride plan to add continuation of medical, dental and
vision coverage to Prides Change in Control Severance Plan? |
|
There is no plan to subsidize continuation of healthcare
coverage for employees terminated as a result of the merger.
However, employees who are terminated as a result of the
merger will be eligible to purchase COBRA insurance coverage. |
||
Mar. 11 | Pride has an international savings plan that matches up to 6%
of employee contributions. Does Ensco have an international
savings plan with an employer match? |
|
Ensco also has an international savings plan for employees
which provides a 5% company match for contributions. It has
yet to be determined how these two plans will be blended in
the combined company. |
||
Mar. 11 | Does Ensco have an annual incentive plan like we do at Pride? |
|
Current Pride employees who continue to be employed by the
combined company after the closing of the merger will be
eligible to participate in an annual incentive plan of Ensco
or the combined company in 2011 with a bonus opportunity no
less than that of similarly situated employees of Ensco, but
any bonus under that plan will be pro-rated for the portion
of the 2011 calendar year after the closing of the merger.
As part of the transition, for 2012 and later years, the
incentive plans of both companies will be reviewed but as of
yet no determination has been made as to how the two plans
will be blended in the combined company. |
||
Mar. 11 | What will happen to unused vacation time at the end of 2011
for Pride employees who remain employees of the combined
company? |
|
It is expected that employees in the combined company will be
eligible to carry over 5 days of unused vacation time as this
is Enscos current policy. |
Employee Merger Questions | Page 2 |
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Mar. 11 | Ensco currently has a 3 year vesting requirement for its 401k plan. Will Pride employees
that remain employees of the combined company need to wait 3 years to begin vesting in the
401k plan of the combined company? |
|
A Pride employees years of service will transfer to the combined company. It is expected
that any 401k amounts that a Pride employee is vested in today will transfer to the new
401k plan to be developed. At this time, the policies of the combined companys 401k plan
have not been determined. |
||
Mar. 11 | Will Pride employees receive outplacement services if terminated as a result of the merger? |
|
It is expected that outplacement services will be provided for all employees terminated as
a result of the merger. |
||
Mar. 11 | Will ADP still be used for processing payroll after the merger is complete? |
|
At this time, no determination has been made regarding payroll software. |
||
Mar. 11 | Will Pride employees be able to continue direct deposit under the combined company? |
|
It is expected that the combined company will offer direct deposit. The procedures and
policies for direct deposit under the combined company have not yet been determined. |
||
Mar. 11 | Will Ensco profit sharing be taken out of employees checks? |
|
Profit sharing is a company paid benefit, not an employee deduction. |
||
Mar. 11 | Please provide an example to help explain the conversion of Pride common stock upon
completion of the merger. |
|
Under the terms of the merger agreement, Pride stockholders will receive 0.4778
newly-issued Ensco shares plus $15.60 in cash for each share of Pride common stock.
Fractional Ensco shares will not be issued in connection with the merger. In lieu of
fractional Ensco shares, Pride stockholders will receive cash based on the amount of
fractional shares multiplied by a five-day average Ensco share price prior to closing of
the merger. |
||
As an example, in connection with the close of the merger, 100 shares of Pride stock would
be exchanged for 47 newly-issued Ensco shares and $1560.00 in cash, plus an additional
amount of cash in lieu of 0.78 fractional shares. |
Employee Merger Questions | Page 3 |
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Mar. 11 | If a Pride employee previously worked at Ensco, will that time be accounted for in total years of
service in the combined company? |
|
For a Pride employee, only years of service at Pride will be carried over to the combined company. |
||
Mar. 11 | What timeline has Ensco given Dallas employees to decide if they will relocate to Houston? |
|
At this point in the merger process a timeline has not yet been determined for Ensco employees to
make relocation decisions. |
||
Mar. 11 | How will Prides Gulf of Mexico Deepwater Department be affected? |
|
It is too early in the transition process to determine how various Pride departments will be
impacted by the merger. As the integration process continues, more information will become
available. |
||
Mar. 11 | What is the timeline for an employee, if terminated due to the merger, to be notified of his or
her termination? |
|
The notification process for employees who are terminated due to the merger has not yet been
determined. It is currently anticipated that terminations will not happen at a set time but will
occur at varying points throughout the integration process as the combined company better
understands personnel needs. |
||
Mar. 11 | What will happen to the Former employees and the Former entity during and after the merger? |
|
Please see the FAQ posted on Feb 28th regarding employment contracts and subsidiaries.
This FAQ can be found within the Personnel and Staffing section. |
||
Mar. 11 | Will Pride employees who have worked on older rigs have the opportunity to be placed on newer
rigs? |
|
It is expected that there will be more opportunities for employees in the combined company.
However, the employee transfer policy and procedure of the combined company has not yet been
determined. |
||
Mar. 11 | What can Pride employees do to request assignment to another location? |
|
Currently, operations employees who are interested in advancement can use the Offshore Placement
Request System (OPRS). OPRS provides an opportunity for individuals to submit a request to be
considered in Operations. OPRS can be located on the Pride website in the Careers section or at
http://www.prideoprs.com. Submitting your request does not guarantee a transfer. An available
position must exist, you must meet the qualifications and be selected for the role and your
supervisor must approve the move before any transfer can take place. It has not been determined
what the transfer process will be in the combined company. |
Employee Merger Questions | Page 4 |
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Feb. 28 | Will Prides Macae, Brazil, base be responsible for the Ensco 7500 arrival and operation
later in 2011? |
|
If the merger closes before the arrival of the Ensco 7500 to Brazil it is expected that
our Macae office will be involved with the arrival procedures. However, if the merger does
not close before Enscos movement of this rig to Brazil, the Pride office cannot be
involved. |
||
Feb. 28 | How will the merger affect our years of service? |
|
Pride employees years of service will be maintained in the new company. For example, if
you have 10 years of service at the time the merger closes you will be considered to have
10 years of service in the combined company. |
||
Feb. 18 | Why does Pride use the word merger and Ensco the word takeover ? |
|
As a legal matter, the transaction is in fact a merger, which explains why we refer to it
that way. However, Ensco has agreed to acquire all the outstanding stock of Pride, so, in
this sense, it is an acquisition of our company by Ensco, for which Ensco has agreed to
pay a premium to our stockholders. |
||
Feb. 18 | Will the company name change to Ensco plc or will it remain Pride International, Inc.? |
|
After the merger is complete the combined company will be named Ensco plc. |
||
Feb. 18 | Will a third party be brought in to handle/manage the post acquisition integration (e.g.
consulting group)? |
|
It is not anticipated that any third party consulting group will be used to assist with
the post acquisition integration. Ensco has communicated that the integration will be
done with internal resources. It is anticipated that integration teams will eventually be
formed consisting of employees from both Ensco and Pride. |
||
Feb. 18 | Is there a target date for when the post acquisition integration plan will be finalized? |
|
There has been no target date set for the finalization of the post acquisition integration. |
||
Feb. 8 | Isnt Ensco just a jackup company? |
|
No. While it is true Ensco has the industrys largest fleet of jackup rigs with 47, the
company has also invested over $3 billion in new deepwater rigs over the last four years
and will be adding a total of eight units to the combined deepwater fleet once all units
currently under construction are completed. These deepwater rigs are a major contributor
to the Ensco earnings profile and will drive the companys growth in the future. A
significant contribution of revenue will still be realized from the deepwater segment, and
overall revenues from the combined floating fleet will be 55 percent. |
Employee Merger Questions | Page 5 |
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Feb. 8 | What should employees be doing in the interim period while the merger is approved? |
|
Pride and Ensco must operate as two independent companies in the interim since no changes will be
implemented until the transaction is completed, so employees should know that its business as usual.
We all have some very important responsibilities and these should continue to get your full attention.
In the meantime, we look to Pride employees to continue to focus every day on our core values of
safety, ethical behavior, operation excellence, employee development and customer satisfaction.
Finally, please do not contact employees at Ensco unless directed to do so by your supervisor. |
||
Feb. 8 | Why Ensco and what are the benefits of combining our two companies? |
|
We have been very clear in our commitment to grow Prides strategic position and increase our critical
mass in a value-added way, with a diversified geographic footprint, while maintaining a strong balance
sheet. We routinely consider acquiring speculative assets, contracting for additional newbuilds, and
industry consolidation opportunities, and, after considering this particular opportunity, we knew that
Pride and Ensco would match up extremely well in terms of our respective operations. |
||
Our rig fleets, markets, customers and expertise complement each other with minimal overlap. Pride has
valuable expertise building and operating drillships and has strong relationships with leading
customers such as Petrobras, Total, BP and others. Enscos strengths include its premium jackup and
ultra-deepwater semisubmersible fleets and its market presence in the North Sea, Southeast Asia, North
America and the Middle East. Together, we will form an even stronger company that is well positioned
to capitalize on emerging growth opportunities within our industry. |
||
By bringing our two companies together, we will create the worlds second largest offshore driller in
terms of fleet size, geographic presence and number of customers which should accelerate our growth in
rapidly expanding markets.
Customers will benefit from a talented and experienced workforce, a wider range of drilling solutions
and a larger fleet that spans six continents. |
||
Financially, we will have a strong balance sheet that allows us to continue to reinvest in our business. |
||
The extensive time and effort spent to transform Pride to a company that has gained the favor of
clients and investors alike, has been rewarded, and because of this effort, we were in a position to
evaluate a very good opportunity from Ensco. |
||
Feb. 8 | How will our customers respond? |
|
We think Pride and Ensco customers will embrace this combination. Members of Pride and Ensco will be
contacting their respective client bases to explain the combination which will create the worlds
second largest offshore driller with the youngest fleet of floaters, capable of addressing an increased
number of offshore drilling needs. Customers can expect to continue to receive the high quality level
of service that both companies are known for. |
Employee Merger Questions | Page 6 |
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Feb. 8 | What needs to be done for the transaction to be approved and when will that be done? |
|
We will be working toward obtaining regulatory approvals first. Special
shareholders meetings will also have to be held at Pride and Ensco. Assuming we
are able to gain approvals and shareholder support, we anticipate that the
combination of the two companies will become effective during the second quarter of
2011. |
||
Feb. 8 | Who will run the company? |
|
Enscos Chairman, President and CEO, Dan Rabun, and Senior Vice President and Chief
Financial Officer, Jay Swent, will both continue to serve in those roles in the
combined company. The balance of the leadership team will be determined over the
coming months and will be communicated through Merger News Corner on the Pride
Platform. The company will benefit from the combined knowledge and expertise of
personnel from both companies. |
||
Feb. 8 | Will systems, policies and procedures change? |
|
Over time, operating systems, policies and procedures that incorporate best
practices from our two companies will be standardized across the organization. We
do not anticipate any significant changes to day-to-day operations on the rigs. |
||
Feb. 8 | What should I do if an external party contacts me about this transaction? |
|
Employees who receive requests from external parties seeking information about this
transaction should refer the call to Jeff Chastain or Kate Perez in Investor
Relations & Corporate Communications. |
||
Feb. 8 | How will I be kept informed regarding developments and decisions going forward? |
|
We will provide regular updates to the Pride employee base as developments warrant
which will be posted on the Pride Platform Merger News Corner. We recognize
employees desire for information and we are committed to providing this
information as it becomes available. For now, it is business as usual. In the
meantime, we will continue to rely on all Pride employees to do their usual
excellent work. |
Employee Merger Questions | Page 7 |
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Feb. 8 | Are the cultures and core values of the two companies complementary? |
|
Absolutely. Both companies share the same core values: safety,
ethical behavior, operation excellence, employee development and
customer satisfaction, all of which were critical to the
combination of the two companies. This shared culture will be the
foundation to achieving the numerous benefits of the combination. |
||
In addition, as we grow as a combined company, management is
committed to ensuring that employees continue to have more career
opportunities to support an even larger organization with more
advanced drilling technologies and new geographies. Customers will
benefit from our talented and experienced workforce, a wide range
of drilling solutions, a larger fleet and a strong balance sheet. |
||
Feb. 8 | What if I have more questions? |
|
Please contact your supervisor with any additional questions or
submit them via e-mail to mergerquestion@prideinternational.com. |
Employee Merger Questions | Page 8 |
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Feb. 28 | If an employee has a local employment contract with a
subsidiary of Pride, how will the merger affect the
employees employment relationship? |
|
In the merger, Pride will merge with a subsidiary of Ensco,
to become a wholly-owned subsidiary of Ensco. It is
currently anticipated that Prides subsidiaries will remain
as separate subsidiaries of the combined company. Because
the merger does not effect a change at the subsidiary level,
the merger will not affect the local employment agreements of
Prides subsidiaries. |
||
Feb. 18 | Will Ensco try to mix/redistribute Ensco and former Pride
personnel over their rigs as soon as possible, so as to
facilitate one culture, or will 2 companies and 2 cultures
remain? |
|
At this time, we do not know how personnel will be allocated
in the future. However, to reiterate what Louis stated in
his announcement of the merger, both Pride and Ensco share a
similar set of core values: safety, ethics, operational
excellence, employee development and customer satisfaction.
These shared values will be the foundation that the culture
of the combined company is built upon. |
||
Feb. 18 | Does Ensco use the split responsibility model (asset vs.
performance management) also, or a different model, and if
so, which will be followed / introduced ? |
|
Ensco does not have the split responsibility model (asset vs.
performance management) in their operations. However, they
are intrigued by the Pride operating approach and are
spending time becoming more familiar with the Asset
Management Model. It has not yet been determined how joint
operations will be organized. This will be determined at a
later date. |
||
Feb. 18 | What happens to the status for employees who are currently
being sponsored by Pride for their permanent residency? |
|
Pride will continue with sponsorship for individuals in this
situation at this time. Ensco will be reviewing this during
the integration process. If the individual remains with the
combined company it is expected that the sponsorship will
continue. |
||
Feb. 18 | Will the long term cooperation Pride has with subcontractor
Ahlers continue under the new merger? |
|
Pride will continue the relationship with Ahlers until the
closing of the merger. Ensco will be reviewing this during
the integration process. |
Employee Merger Questions | Page 9 |
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Feb. 8 | What employees will be affected by this combination of the two companies? |
|
The vast majority of Ensco and Pride employees will not be materially
affected by the acquisition. As we consolidate our two companies,
however, select offices will be combined and there will be redundant
positions in certain departments. There is a plan to consolidate Prides
Houston office with Enscos Dallas office into one office in Houston.
The transition plan is being developed and we will keep you apprised
accordingly. |
||
The office consolidation will result in overlapping personnel and
certain employees will not be offered positions in the combined company.
We are currently evaluating all positions and employees that may be
affected by the office consolidation and we will communicate directly
with those employees as soon as possible. No changes will be made until
the closing, which then will be followed by a transition period. |
||
Over time, as more rigs are delivered and new construction projects
commence for recently ordered rigs, more positions will be created
within our fleet, in the shipyards and in various support functions. |
||
Feb. 8 | How will Pride corporate office employees be impacted? |
|
Because the combined Pride/Ensco organization will be twice as large as
either company is on its own, we anticipate that many corporate office
employees will be needed to support the combined company. Additionally,
Ensco has indicated that it will move its principal U.S. office from
Dallas to Houston so we expect that many of our Houston-based employees
will be offered opportunities in the combined organization. |
||
Again, a shared value of both companies is our commitment to Employer of
Choice initiatives. Pride and Ensco know that our people are our
greatest asset and you can expect to see further investment in
initiatives that will support the retention and development of employees
in the combined company. |
||
Feb. 8 | How will my job be affected? |
|
We do not anticipate much impact on our rig and shore-base operational
employees. Employees who are in support departments may or may not see
longer-term changes, again depending on their work location. |
Employee Merger Questions | Page 10 |
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Feb. 28 | Will Ensco offer the same flexible work schedule for corporate employees as we have now? |
|
It has not yet been determined if Ensco will offer the same flexible work schedule for
corporate employees. |
||
Feb. 28 | What is the Change in Control policy for part-time employees? |
|
Only full-time employees are eligible for the provisions of Prides Change in Control
policy. If there are local laws applicable to a Change in Control situation, those
laws will be followed. |
||
Feb. 28 | Will offshore workers be provided the same severance as shore based workers? |
|
Prides Change in Control Severance policy is designed for shore-based employees who
are paid on the U.S. dollar payroll. It is anticipated that with the Ensco
transaction, our rig-based employees will transfer to the new company along with the
rigs on which they work, therefore our severance policy will not be revised to include
offshore employees. In those locations where we have labor contract agreements, the
provisions in those agreements will be followed. |
||
Feb. 28 | If I want to opt out of the Employee Stock Purchase Plan (ESPP) right now may I do so? |
|
Employees enrolled in Prides ESPP may suspend contributions at any time and either
have shares purchased with your contributions to date at the end of the purchase period
or withdraw from the plan and receive a refund of your contributions to date, without a
purchase at the end of the purchase period. |
||
Feb. 18 | Will our medical insurance change and if so when would that occur? |
|
Those enrolled in Prides health benefits will remain in the plan through 2011. During
the next open enrollment, we expect that employees will be offered the same health
benefits offered to all Ensco employees. |
||
Feb. 18 | Will the Previnter medical plan change? |
|
Those enrolled in Prides Previnter medical plan will remain in the plan through 2011.
During the next open enrollment, we expect that employees will be offered the same
health benefits offered to all Ensco employees. |
Employee Merger Questions | Page 11 |
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Feb. 18 | Will the Ensco health insurance plan allow me to add my spouse even if
he or she chooses not to use his or her own company provided health
insurance? |
|
Enscos current health insurance in the U.S. does require an
employees spouse to take his or her company insurance as primary if
that insurance is available. However, Pride employees will remain on
their current insurance for all of 2011. On January 1, 2012, we
expect that a new healthcare insurance plan will be adopted for the
combined company. This plan may not require an employees spouse to
be covered by his or her company insurance as primary. This has not
yet been decided. The new plan will be communicated to employees
during the next open enrollment period following the merger. |
||
Feb. 18 | Will there be any changes to the Pride tuition reimbursement program? |
|
Prides educational assistance policy will remain in effect until the
merger with Ensco closes. Anyone who has approved coursework started
prior to the merger will be reimbursed according to the Pride tuition
reimbursement policy. |
||
Feb. 18 | Will there be any changes to the fitness reimbursement program? |
|
Prides fitness reimbursement policy in Houston will remain in effect
until the merger with Ensco closes. Ensco does currently provide a
fitness reimbursement at their Dallas office. |
||
Feb. 18 | Will there be any changes to Prides retention bonus plan? |
|
Ensco currently has retention plans in place. Pride retention plans
will continue unchanged until Ensco develops a plan for the combined
companies. |
||
Feb. 18 | When will we move to the Ensco payroll structure and be presented with
changes in pay grades, if any? |
|
Both Ensco & Pride have similar compensation philosophies and
programs. While there will be some changes to ensure a consistent pay
program, major changes are not anticipated at this time. The move to
one compensation program will take place as part of the integration
process over the next 12 months. |
||
Feb. 18 | Will we stay with Fidelity 401K or will we be changing to another 401K? |
|
Ensco will evaluate both companies 401(k) plans to determine which
platform will best service the needs of all employees going forward.
Enscos provider, T. Rowe Price, and Fidelity are both highly
reputable and leaders in the retirement plan industry. |
Employee Merger Questions | Page 12 |
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Feb. 18 | Does Ensco provide a 6% company matching 401k investment benefit as Pride does? |
|
Pride employees who participate in the 401(k) program will be eligible to
continue saving for retirement in Enscos plan. Both Pride and Ensco have
plans that match employees contributions; Pride up to 6% and Ensco up to 5%.
However, Enscos plan currently has a profit-sharing feature which is
beneficial to plan participants. |
||
Feb. 18 | At the time of the acquisition and change of control, will we be able to roll
our 401k money into an IRA? |
|
At this time, it is not known whether Prides plan with Fidelity will transfer
to Ensco or if Enscos current plan with T. Rowe Price will be the one
available to employees. The IRS allows you to make a tax-free 401k rollover
into another employer qualified retirement plan or, if your employment is
terminated, into your Individual Retirement Account (IRA). |
||
Feb. 18 | Will we still be able to purchase Pride stock through the Pride Employee Stock
Purchase Plan for the first half of this year? |
|
Yes. If Pride remains an independent company on the next scheduled purchase
date of the ESPP (June 30, 2011), stock purchases under the plan may be made.
If the merger closes prior to June 30, 2011, Pride will establish a final
purchase date that is before the closing date, and the purchase of Pride stock
will be made on that date based on cash balances as of such date. After this
final purchase date, no new purchase period will begin under the ESPP, and the
ESPP will be discontinued. |
||
Feb. 18 | Does Ensco have an Employee Stock Purchase Plan (ESPP)? |
|
Ensco does not have an Employee Stock Purchase Plan. However, they currently
have an Employee Profit Sharing Plan that the company contributes to on behalf
of employees each year. |
||
Feb. 18 | If the merger is not complete by the time Pride employees are eligible to buy
Pride stock through the ESPP, can you explain what the employees with Pride
stock will receive as part of the stock conversion to Ensco? |
|
Employees who fully own Pride stock will be treated like any other common
stock holder of Pride. Each share will receive $15.60 cash and .4778 newly
issued shares of Ensco. |
||
Feb. 18 | Can you explain how recently awarded long term incentive plan shares will be
handled and how it impacts the planned, future distribution? |
|
Any unvested Pride Restricted Stock Units will vest when the merger closes.
Employees will fully own the stock, which will then be treated like any other
common stock of Pride. Each share will receive $15.60 cash and .4778 new
issued shares of Ensco. There will be further communication on this vesting
and conversion process including information on the tax procedures, as Pride
will be required to withhold shares to pay employee federal tax obligations on
the full vesting of the Pride Restricted Stock Units. |
Employee Merger Questions | Page 13 |
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Feb. 18 | Will we pay out accrued vacation time in addition to severance pay to
any employees terminated as a result of the merger? |
|
If terminated, employees that are eligible for severance payments
under Prides Change of Control Plan will receive compensation for
earned but unused vacation time in addition to severance pay. |
||
Feb. 18 | What is the status of the friends and family summer program for 2011? |
|
The friends and family summer program will not be conducted this year. |
||
Feb. 8 | Will my pay and benefits be affected by this change? |
|
In the near term, this change will not have any impact on your pay or
benefits. Over time, both companies will evaluate how their
compensation and benefits plans are structured and we will move
towards standardizing them. Both companies currently offer similar
competitive salary and benefits to their employees. |
Employee Merger Questions | Page 14 |
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Feb. 18 | Will spare parts and inventory management be kept separately in E1, or
back into the maintenance management system? Will E1 still be used for
inventory control and purchasing or will we adopt Enscos system? |
|
At this time we do not know whether our E1 system or Enscos system will
be used for inventory control or purchasing. We will answer this
question as soon as further details are available from the ongoing
integration process. |
||
Feb. 18 | Do we know what the Ensco maintenance management and inventory system is? |
|
Ensco is using the Purchasing & Inventory Modules from Peoplesoft (their
Enterprise Resource and Planning (ERP) system equivalent to our E1).
Their inventory is managed on a separate Peoplesoft module. At this
point, we do not know what will be the next company maintenance system,
but Ensco has also looked at Maximo 7.0 as they desire, like Pride, to
upgrade their current system. |
||
Feb. 18 | Will procedures like the equipment failure report, request engineer
services, modification authorization form, etc., remain, be
superseded by something better, or be merged into the maintenance
management system? |
|
Ensco has the same focus with these key processes and while we do not
know if these processes will remain in the current format, the
fundamentals and principles will remain. Until we finalize the details,
we will continue to use Pride policies and procedures and will
communicate any changes as soon as we know more. |
Employee Merger Questions | Page 15 |
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