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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

Mergers & Acquisitions

Fulcrum Buys BMT Snyek Technologies

BMT Group announced the sale of BMT Syntek Technologies Inc to Fulcrum Corporation. Fulcrum Corporation, based in Arlington, VA., providies customized services

BEST Readies for Mega Ships

Hutchison Port Holdings Limited (HPH) subsidiary Barcelona Europe South Terminal (BEST), located at the Port of Barcelona, today held a ceremony for the arrival of three new Quay Cranes (QCs),

COSL Takes Delivery of New Semisub

China Oilfield Services Limited saw successful delivery of the deepwater semi-submersible drilling rig COSLProspector it invested in and commissioned to build in Yantai, Shandong today.

Offshore Energy

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Update: Explosion in the Gulf of Mexico

An explosion occurred aboard a production platform Thursday at West Delta 105, operated by Fieldwood Energy, resulting in one fatality and three injured. The Bureau

Deepwater Semi-Sub COSL Prospector Delivered

COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province.

Underwater Engineering

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

EMGS to Map Brazil's Gas Hydrates

Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map

Rosneft Completes Geological Survey

Rosneft reports on 100% completion of the geological survey program on Company's offshore license areas for 2014. In the current year geological survey covered

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1099 sec (9 req/sec)