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

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Contracts

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Offshore

Coast Guard tactical air squadron holds change of command ceremony

Capt. Kevin P. Gavin relieved Capt. Donna L. Cottrell as commanding officer of Coast Guard Helicopter Interdiction Tactical Squadron Jacksonville during a change of command ceremony at HITRON Friday.

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Energy

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings

News

Sunken Korea Ferry Relatives Give DNA Swabs To Help Identify Dead

Some relatives of the more than 200 children missing in a sunken South Korean ferry offered DNA swabs on Saturday to help identify the dead as the rescue turned

DNV's accredatation for Neosho Memorial

Neosho Memorial Regional Medical Center, Chanute, has completed a new accreditation process from Det Norske Veritas Healthcare. By earning accreditation, Neosho

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Marine Equipment

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Van Oord acquires 100% control of Dravo

Van Oord has acquired all shares of its Spanish subsidiary Dravo S.A.  Dravo S.A. has been owned, since 1987, by Van Oord (50%) and the Spanish company Dragados S.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.2611 sec (4 req/sec)