AI assistant
Fugro N.V. — M&A Activity 2008
Aug 1, 2008
3845_iss_2008-08-01_3edbb9b4-475e-412a-a6ca-3ea8836df12c.pdf
M&A Activity
Open in viewerOpens in your device viewer
PRESS RELEASE
Leidschendam, the Netherlands, 1 August 2008
Fugro acquires companies in India and Australia
Fugro has acquired NexTerra Geophysical Solutions Private Limited in Kolkata, India, as well as the Australian based company SureSpek ISS Pty Ltd.
NexTerra specialises in the provision of land-based geoscientific data acquisition and associated processing, interpretation and consulting services. The company employs twelve people and is active both within and outside India. NexTerra will be known as Fugro-NexTerra, operate under its existing management and form part of Fugro's Airborne Survey services.
The market for geoscientific data and consulting services in India is developing rapidly in line with the Indian economy. Fugo-NexTerra will play an important role in enabling Fugro to bring its broad range of technologies and expertise to the users of geoscientific information in India.
SureSpek, established in 1995, is an Australian based company operating mostly in the Asia Pacific region. The company manages and undertakes subsea inspections on offshore pipelines, jackets and structures, mostly for oil and gas companies. The business – in combination with Fugro's existing ROV (Remotely Operated Vehicle) business – will help to strengthen the subsea activities of Fugro. Current management will stay in place and the company will be renamed Fugro-SureSpek Pty Ltd. The company has sixteen staff and revenues of approximately EUR 2.5 million and will be part of Fugro Offshore Survey.
For further information:
Fugro N.V. K.S. Wester, President and CEO Telephone + 31 70 311 11 12
Fugro collects, processes and interprets data related to the earth's surface and soil composition and provides advice based on the results. As an extension to these activities, Fugro provides services such as precise positioning, construction materials testing, reservoir engineering and data management. Fugro's operations have been organized into three divisions: Geotechnical, Survey and Geoscience. Fugro is listed on Euronext Amsterdam and is included in the Amsterdam Midkap Index (AMX). Fugro has more than 12,000 employees in more than fifty countries.
Fugro N.V. - P.O. Box 41 - 2260 AA - Leidschendam - The Netherlands - Tel:+31 70 3111422 - Fax:+31 70 3202703 - Trade Register: nr 27120091 - VAT Nr: 0056 21 409 B01 - [email protected]