Yokogawa Electric to buy UK oil and gas consulting company
TOKYO -- Yokogawa Electric
said Wednesday it will acquire KBC Advanced Technologies, a
British provider of consulting services to the oil and gas industry, in
deal valued at 30.8 billion yen ($267 million).
Founded in 1978, KBC is listed on the London Stock Exchange. Most of its customers are oil- and gas-related companies, to which it provides efficiency-enhancing services, software to optimize output and information systems that integrate everything from production through sales.
The British company has locations in the U.K., U.S. and Singapore and reported sales of 13 billion yen in 2014. The transaction is expected to close in late June.
Yokogawa Electric sells and services control instruments for petroleum refineries and petrochemical plants. It aims to strengthen relationships with customers by providing KBC's expertise. KBC counts oil majors among its customers and could help expand sales routes for the Japanese company's control instruments.
Although new construction of petroleum plants overseas has slowed due to the drop in resource prices, Yokogawa hopes to capture demand from companies looking to improve operational efficiency.
(Nikkei)
http://asia.nikkei.com
Founded in 1978, KBC is listed on the London Stock Exchange. Most of its customers are oil- and gas-related companies, to which it provides efficiency-enhancing services, software to optimize output and information systems that integrate everything from production through sales.
The British company has locations in the U.K., U.S. and Singapore and reported sales of 13 billion yen in 2014. The transaction is expected to close in late June.
Yokogawa Electric sells and services control instruments for petroleum refineries and petrochemical plants. It aims to strengthen relationships with customers by providing KBC's expertise. KBC counts oil majors among its customers and could help expand sales routes for the Japanese company's control instruments.
Although new construction of petroleum plants overseas has slowed due to the drop in resource prices, Yokogawa hopes to capture demand from companies looking to improve operational efficiency.
(Nikkei)
http://asia.nikkei.com
Post a Comment