Swire Snags Australian Oilfield Products, Services Company
The world's leading supplier of specialist offshore cargo carrying units, Swire Oilfield Services, has announced the acquisition of Australia based Maritime Products & Services (MPS).
MPS is the latest acquisition in Swire Oilfield Services' international growth plan. Over the past nine months, the company has acquired businesses in Norway, Angola, Nigeria, the USA and now Australia for a total of £35 million. In addition to the acquisitions, £18 million has been invested to improve and enhance the company’s fleet across its global locations.
As Australia enjoys buoyant market conditions and high levels of E&P, operators in the region now have access to Swire Oilfield Services extensive suite of products and services which includes chemical tank, basket and container rental, chemical handling and aviation fuel services. The acquisition will also enhance the range of services on offer to the rest of the industry, most notably taking the company into the new area of pump and filtration units specifically designed for high pressure low flow well applications.
Employing eight people, MPS was founded in 2001 and quickly established itself as Australia’s leading supplier of chemical tanks, pump and filtration equipment. To add to the knowledge base and technical expertise already in place at Swire Oilfield Services, there are plans for long and short-term postings between Perth and Aberdeen. Similar exchanges have seen members of the Aberdeen team join the company’s African locations, while Nigerian and Angolan staff have received training at the companies Aberdeen bases.
Director and General Manager of Swire Oilfield Services Limited, Rupert Bray, said, "We were attracted to MPS as its ethos of providing industry-leading products and a high quality customer service are in line with our own values. Demand for MPS' service offering in Australia and the Asia-Pacific region has increased significantly over the past few years and the acquisition allows us a smooth entry to the market. To ensure we can make the most of the many opportunities available, we have already committed over £2 million to expand our fleet and expect to spend twice that in the coming year.
"Our acquisitions over the past nine months show that we are committed to moving into the world’s major oil regions and we believe that wherever our clients operate, our products and services should be available. We have made significant investment over this time period and Swire Oilfield Services’ footprint now stretches from Aberdeen to Angola to Australia. The company will continue to asses the global market and should opportunities arise in other areas we will give them due consideration."