29.08.2023

Swedish Proplate releases record sales also thanks to German business

Proplate Oxelösund AB, Swedish manufacturer of complex steel parts and assemblies for the construction and special vehicle industries, has achieved record sales of SEK 429 million (around EUR 36 million) in the past fiscal year. In SEK terms, this represents an increase of around 18% on the previous year and a doubling within the last three years.  

29.08.2023

Acecore Joins GeoCue Integrated Drone Platforms for TrueView 3D LiDAR Imaging and Mapping

Take custom integration to new heights with the partnership between GeoCue and Acecore, expanding aerial mapping solutions throughout Europe.  

29.08.2023

Flexco Europe's electric belt skiver simplifies conveyor belt repairs

Flexco Europe has developed the FSK2MP, a belt skiver that uses an electric drive to remove belt top covers much faster and more easily than conventional devices can do.  

Market-Place-4.0 EXPRO

28.08.2023

Expro acqires offshore services provider PRT Offshore

Expro acqires offshore services provider PRT Offshore - Michael Jardon, Expro Chief Executive Officer (credits: EXPRO)

Expro (NYSE: XPRO), a leading provider of energy services, today announced it had entered into a definitive agreement to acquire offshore services provider, PRT Offshore.

Total consideration to be paid at closing is approximately $106 million, including $62 million of cash and $44 million of newly issued Expro shares. Potential additional consideration will be based on PRT Offshore’s financial performance during the four quarters following closing. Excluding possible cost and revenue synergies, total consideration is expected to be approximately 4.0x PRT Offshore’s estimated 2023 and 2024 Adjusted EBITDA.  

Upon closing of the transaction, which is expected to be in the fourth quarter of 2023, the acquisition will enable Expro to expand its portfolio of cost-effective, technology-enabled services and solutions within the subsea well access sector in the North and Latin America (NLA) region and accelerate the growth of PRT Offshore’s surface equipment offering in the Europe and Sub-Saharan Africa (ESSA) and Asia Pacific (APAC) regions.

PRT Offshore is based in Houston, Texas and is the only company to provide a complete Hook-to-Hanger™ solution enabling comprehensive well completions, interventions and decommissioning services from surface to subsea. Its unique system is designed to allow customers to access the wellbore safely and efficiently, all while reducing personnel on board.

Michael Jardon, Expro Chief Executive Officer, said: “Expro is committed to investing in innovation and technology to differentiate our services and solutions offering. This strategic acquisition is exciting for both Expro and PRT Offshore as we strengthen and expand our subsea well access technology offering and continue to deliver value to our customers across the life of their wells.

“Our subsea well access portfolio has a strong and established international presence, particularly across ESSA and APAC. We believe this will provide significant opportunities to expand PRT Offshore’s presence in these attractive regions. Similarly, Expro will leverage PRT Offshore’s strong position in deepwater offshore well completion and intervention throughout the NLA region to deliver integrated customer solutions.

“Building on Expro’s 40-year track record in subsea, we feel confident PRT’s offering and expertise will complement our existing technology and result in improved services, enhanced solutions, and an even more robust geographic presence. We look forward to welcoming PRT Offshore team to the Expro family.”

RBC Capital Markets is serving as exclusive financial advisor to Expro and Womble Bond Dickenson is acting as legal counsel on the transaction.

Source: EXPRO

#offshore #under water #Europe #Sub-Saharan Africa #Asia Pacific #United States (US) #efficiency #mergers and acquisitions #EXPRO #Mining

                     

28.08.2023

New research project to foster development of logistics system for carbon capture and storage (CCS) in the Swedish cement industry

RISE together with project partner Heidelberg Materials are happy to announce a new project titled “Logistics for Carbon Capture and Storage in the cement industry (LoCCS)”. The project aims to develop a reliable, cost and environmentally efficient logistics system for Carbon, Capture and Storage (CCS) in the Swedish cement industry.