NauticAWT has signed an agreement to acquire the entire issued and paid-up capital of Marine Engineering Services Pte Ltd (MESPL) for $850,000 from IMC Offshore Engineering.
Incorporated in Singapore, MESPL is principally engaged in the business of providing facilities and project engineering services for the marine and offshore oil and gas industries.
NauticAWT says the acquisition will help expand its core business within the subsea and surface facilities business segment.
MESPL has been collaborating with the company to provide topside and facilities engineering services on a jacket requalification project located in the Khafji Joint Operations area of Saudi Arabia and Kuwait.
In FY2014, MESPL made a net loss of $2.8 million. As at Dec 31 2014, the net tangible liability value of MESPL was $7.2 million.
NauticAWT last closed at 22 cents.
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Incorporated in Singapore, MESPL is principally engaged in the business of providing facilities and project engineering services for the marine and offshore oil and gas industries.
NauticAWT says the acquisition will help expand its core business within the subsea and surface facilities business segment.
MESPL has been collaborating with the company to provide topside and facilities engineering services on a jacket requalification project located in the Khafji Joint Operations area of Saudi Arabia and Kuwait.
In FY2014, MESPL made a net loss of $2.8 million. As at Dec 31 2014, the net tangible liability value of MESPL was $7.2 million.
NauticAWT last closed at 22 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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