Boots & Coots Renews Safeguard Contracts in Africa for $58MM

Boots & Coots has renewed one of its Safeguard contracts in Africa, substantially expanding the scope of the company's existing prevention services for a three year term, with an optional two year extension period. The contract, which initiates this quarter, is valued at $58 million and includes $23 million in new Safeguard services.

"The prevention business has been our fastest growing segment over the last several years, and we believe part of that reason is because our customers recognize the value we bring through safer and more productive operations," stated Jerry Winchester, president and chief executive officer. "We believe that this contract clearly demonstrates the opportunities that exist in emerging markets for our Safeguard services."

The majority of the services provided under the contract include training, rig audits, risk assessments, on-site competency programs and related prevention services, with minor provisions for third party services.