Offshore Equipment Firm Acquisition by Forum Energy

Press Release
Wednesday, May 29, 2013

Houston-based Forum Energy Technologies agrees to acquire Blohm + Voss Oil Tools from STAR Capital Partners Limited (STAR), a London based private equity firm.

Completion of the transaction is subject to certain customary closing conditions.  Further details of the transaction were not disclosed.

With locations in Hamburg, Germany and Willis, Texas, Blohm + Voss Oil Tools manufactures a comprehensive range of pipe handling equipment used on offshore and onshore drilling rigs

Cris Gaut, Forum's Chairman and Chief Executive Officer, commented, "Blohm + Voss Oil Tools significantly strengthens the tubular handling offering within our Drilling Technologies product line.  The Blohm + Voss brand name is well recognized in the industry and has a strong reputation for delivering high quality products to a global customer base. Blohm + Voss Oil Tools' strength in international and offshore markets complements Forum's strength in the North America land market.  In addition, we see an opportunity to expand the market for our combined product offering by utilizing our existing global sales, distribution and service channels. We welcome all of the employees of Blohm + Voss Oil Tools to the Forum family."

Jens Lutzhoft, Managing Director of Blohm + Voss Oil Tools, commented, "We are pleased to join forces with Forum, which has the same customer-oriented philosophy as our own. For our employees, who have been the key to our success, Forum offers additional growth opportunities."

Forum Energy Technologies, Inc., is a global provider of manufactured technologies and applied products to the energy industry. Forum's over 3,400 employees provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling, and production sectors of the oil and gas industry.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,

Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.

Offshore Energy

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

MacGregor Wins Deck Machinery Order in China

MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five

Underwater Engineering

Hydrographic Survey of Malacca Strait Underway

A hydrographic survey of the Straits of Malacca and Singapore (SOMS) was launched today by the three littoral States - Indonesia, Malaysia and Singapore - and

KEP Marine Releases Video Recording Products

KEP Marine releases today the innovative network video recording system and new HD cameras. The plug-and-play KVNR-8001 network video recording system is

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1730 sec (6 req/sec)