The Evolution of Capabilities and Emergence of New Sectors in the Context of Industrial Extinction: The Case of Subsea Technologies in the North East of England Frank Siedlok and Pierpaolo Andriani Durham Business School, Mill Hill Lane, Durham, DH1 3LB, United Kingdom Tel. +44 191 334 5415, fax +44 191 334 5201, Send correspondence to: franciszek.siedlok@durham.ac.uk