Lamprell plunges as management purge begins

Oil and gas engineering firm Lamprell lost almost 40 per cent of its share value after it said delays and extra costs would make 2012 losses significantly larger than expected.

Oil and gas engineering firm Lamprell lost almost 40 per cent of its share value after it said delays and extra costs would make 2012 losses significantly larger than expected.

The firm is now set to make wholesale changes at the top, saying "changes to the leadership and senior management team are required to ensure Lamprell begins to rebuild its reputation with both investors and customers".

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