Navcon Sells Stake to BMT Scientific

(Press Release)
Tuesday, February 21, 2012

Navcon Navegacao e Controle Ltda, a Brazilian specialist in monitoring systems for the offshore oil and gas industry, entered into a formal partnership with BMT Scientific Marine Services Ltda. The company has an advanced R&D background and widespread experience of working offshore Brazil. Navcon’s current oil and gas activities align with those of BMT and include anchorage torpedoes and riser monitoring systems, monobuoy monitoring systems as well as metocean and wave measurement buoys.

BMT Scientific Marine Services Ltda is a subsidiary of the international engineering, maritime and risk management consultancy, BMT Group Ltd. BMT Scientific Marine Services Ltda, is the Brazilian entity of BMT Scientific Marine Services Inc, which provides innovative integrity monitoring systems for a wide range of floating offshore oil facilities including their subsea risers and mooring systems. BMT delivers custom engineered products from design through procurement, assembly, installation and aftermarket service.  
Claudio Pires and Valter Schad, Directors at Navcon commented: “We are delighted that BMT has chosen to invest in Navcon. We are confident that our cutting edge R&D and knowledge of the Brazilian market combined with BMT’s innovative culture, drawn from working in the oil and gas industry in other territories, will provide added value to all our current and future customers.” 
Peter French, Chief Executive of BMT Group Ltd, commented: “With the BRICS countries now considered to be driving the global economy, Brazil’s commercial importance has been further heightened. The new relationship with Navcon will allow BMT to enhance its technical base in-country providing skills to help further support Brazil in realising its oil and gas reserves.”

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