Proserv Boosts Global Offering

Press Release
Friday, December 21, 2012
TIC acquistion

A energy production technology services company Proserv has bolstered its rapidly-evolving global footprint and specialist integrated services after acquiring major US company Total Instrumentation & Controls (TIC).



The acquisition of Houston-based TIC, which specializes in advanced process and control systems equipment and has a second manufacturing facility in Lafayette (LA), also significantly increases Proserv’s talent pool by more than 300 people to over 1600 with the entire American-based workforce joining forces with the company under the Proserv mantle.
 


TIC provides a broad range of installation and maintenance services to equipment manufacturing, drilling, production and pipeline companies. Specializing in blow-out prevention (BOP) stacking and installation services for offshore applications, the company manufactures drilling and production control systems and supplies ancillary subsea components such as remote terminal units (RTUs) and topside umbilical termination units (TUTUs).
 


The deal reinforces Proserv’s position as a leading player in the drilling and production controls market and provides the company with enhanced capabilities to expand its offering into the BOP subsea controls and services sector.



David Lamont, Proserv’s chief executive officer, said: “The acquisition of TIC is completely in line with our ambitious growth strategy - investing in companies and complementary world-class technologies that strengthen our suite of innovative products and services.



“This is a significant development for Proserv as TIC is a leading independent contractor to subsea BOP manufacturers, meaning the deal will create a greater strong-hold for Proserv in the Gulf of Mexico market, enhancing our integrated capabilities. In turn, this will allow us to cross-sell Proserv products and services through TIC’s customer base, creating considerably more capacity to develop our international business.



“Existing product lines, such as our Gilmore Valve range, are complemented by TIC’s service offering and will enable us to provide the offshore and land based drilling sector with a more comprehensive drilling controls solution.



“We are thrilled to welcome the TIC team to Proserv.  They bring a broad range of technical skills and experience, but most importantly they share our core values and ambition to be the provider of choice to our customers and together, as one company, we are even stronger.”



Steve Lykins, chief operating officer at TIC, said: “We are delighted to become part of the Proserv family and believe it will create a unique opportunity to grow our business to benefit our customers and our people.
 


“TIC has been a leading expert in process control and safety shutdown systems and services for over 20 years and through Proserv’s global footprint and world-class portfolio of services, we can look to strengthen our service capabilities and accelerate our international expansion.”


Proserv is a market-leading company specializing in exploration & production, drilling, and infrastructure technical solutions and services to the global energy industry. The company operates worldwide from 30 sites in 6 geographical regions namely the Americas, North UK & Africa, South UK & Europe, Scandinavia, Middle East & North Africa and the Far East & Australia.


Proserv has experienced exceptional growth over the past 12 months particularly in the subsea services sector. Earlier this year, more than 300 members of Weatherford staff joined Proserv when the company’s subsea controls subsidiaries were acquired in May.


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

People & Company News

U.S. Marshalls Ordered to Seize Kurdish Oil Cargo off Texas

Acting on a request from the central government in Iraq, a U.S. judge has signed an order telling the U.S. Marshals Service to seize a cargo of oil from Iraqi Kurdistan

Diana Containerships Q2 & 1H 2014 Financial Results

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014,

Mercator Lines Profit Hit by Low Bulk Freight Rate

Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year, however a net loss of US$ 7.

Technology

LiveCom Selects iDirect Evolution to Enable Global Expansion

iDirect Asia Pte Ltd today announced that LiveCom Limited (“LiveCom”), a Hong Kong based ISP, has selected Evolution as the platform to help enterprise and government

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Desulfurization of Exhaust Gases in Shipping

Are shipowners prepared to enter SECA zones?   Due to existing regulations on air exhaust emissions from the International Maritime Organization (IMO), and with

Contracts

Diana Containerships Q2 & 1H 2014 Financial Results

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014,

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

Energy

Total Sells ts Coal Mining Assets to Exxaro

Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.

Prelude By the Numbers

Out at sea, look! It’s a ship! It’s a floating rig! It’s SuperFLNG! While not “faster than a speeding bullet,” Shell’s shipzilla Prelude is certainly more powerful than a speeding locomotive,

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

News

Total Sells ts Coal Mining Assets to Exxaro

Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.

Crew of USCG Cutter Thetis to Return today

The crew of the Coast Guard Cutter Thetis, a 270-foot medium endurance cutter based out of Key West, Florida, is scheduled to return to homeport Tuesday at 11:45 a.

Control of Emission from Vessels in Hong Kong Waters

Amendments to the Shipping and Port Control Ordinance (Cap. 313) and the Merchant Shipping (Local Vessels) Ordinance (Cap. 548) to enhance the control of dark

Marine Equipment

MTN Lands Cruise Line SatCom Contracts

MTN Communications (MTN) says that three cruise operators around the world have selected the company for its passenger, crew, corporate communications and content services.

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

Master Marine Delivers Z Drive Towboat

Master Marine, Inc. delivered its first 2,000 hp Z Drive inland river towboat last month. The towboat represents the first vessel (Entech Design) of this series by the yard.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar Winch
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: 0.3044 sec (3 req/sec)