Proserv acquire Bantam based control equipment specialist PT Petrotech
PT Petrotech had revenues of over $10million for the year ending 2007 and employs around 80 people in its offices in Indonesia and the USA. Its main focus is the engineering and design of wellhead control panels and Proserv’s strategy is to maintain its strong position within this business segment.
Proserv also intends to increase the product portfolio and engineering services on offer to the Far East market, offering enhanced engineering, manufacturing, installation and commissioning services throughout the region.
The existing management teams will continue to support and lead PT Petrotech operations in Indonesia and America. They will work together with Proserv’s Test and Control Systems Strategic Business Unit (SBU), to offer an advanced range of services and products within the market segment.
Andre Spin will continue his duties as General Manager for the Far East operation, while Chris Lytle and Brad Preston will continue to manage finance and operations for the USA respectively.
“During the lead-up to this merger we have been extremely impressed with the quality of this company,” says Arve Sem-Henriksen, CEO and President of the Proserv Group. “The calibre of work carried out at PT Petrotech in Indonesia and USA is of a very high standard and the company fits ideally into our strategy of becoming international leading within the Test & Control business segment”.
Bjorn Angeltveit, Proserv’s Senior Vice President in Singapore, is positive that the acquisition of Petrotech will help to meet Proserv’s growth targets for the region. “The market in the Far East is very prosperous, and we now have an established hub to grow from.
“It was very important for us to retain the existing management within the company because their knowledge and expertise will no doubt greatly assist us in developing our network of clients, especially in Indonesia and Malaysia.”
