Company News, Mergers & Acquisitions.
After acquiring QuickTrade L.L.C. and QuickTrade Canada Ltd. Partnership in January, Houston-based Altra Energy Technologies Inc. has agreed to acquire the assets of TransEnergy Management Inc., a competing provider of marketing, transportation and risk management software. Officials say by combining the two companies' development resources, current and prospective customers will benefit from Altra's next generation product line (already in progress) that will be adapted to incorporate both technologies, key feature functions and performance attributes.
METCO Services Venezuela, C.A., is a new jointly owned company established by Daniel Measurement Services (DMS) and Anglo Venezuelan Engineering and Controls C.A. (AVECO), to provide energy measurement services to the hydrocarbon production, processing and transmission markets in Venezuela. The company will operate under license from DMS's wholly owned subsidiary, METCO Services Ltd., an Aberdeen, Scotland based provider of independent liquid and gas flow measurement services in the North Sea, UK and Asian energy markets.
The Sage Systems Division of Valmet Automation recently introduced its new name for the forthcoming millennium, Neles Automation, a division of Metso Corporation. The name change became effective on July 1, when Metso organized the automation and control business units of Valmet Automation and Neles Controls into Neles Automation.
LG&E Energy has acquired CRC Holding Corporation, the parent company of CRC-Evans Pipeline International Inc., a world leader in providing specialized equipment and services in the construction and rehab of gas and oil transmission pipelines. LG&E's plans for CRC-Evans call for letting the company continue to execute its strategy of expanding the business through growth of existing services and acquisitions in related fields. Prior to the LG&E purchase of the Houston-based company, CRC-Evans Pipeline International had announced a worldwide initiative into concrete weighting products. Plans called for the expansion into weight products for pipelines to be accomplished through a UK-based subsidiary, PIM Incorporated.
Sooner Inc., Tulsa, OK, a leading distributor of tubular products for pipelining, drilling and production, has acquired the tubular divisions of Wilson Industries, Continental Emsco, and National Oilwell, all of Houston. Combining the four premier tubular companies is projected to drive Sooner's sales to in excess of $500 million annually.
Darby Equipment Company has opened a new state-of-the-art manufacturing and service facility in Tulsa, OK, where the company was started more than a decade ago. The new location, 1915 S. 49th West Avenue, will handle sales and field support, as well as on-site equipment rental, fabrication and machine work.
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|Publication:||Pipeline & Gas Journal|
|Article Type:||Brief Article|
|Date:||Aug 1, 1999|
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