Fugro acquires Tenix LADS
2009.06.08 -
Industry
Fugro has agreed in principle to acquire the Tenix LADS business from the Australian based company Tenix Pty Ltd. Tenix LADS is a leading global provider of Airborne Hydrographic services, which uses lasers to measure water depths. The laser technology (known as LIDAR) in use is a LADS proprietary system.
Tenix LADS has annual revenues in the order of EUR 12.5 million, from its global contracts with governments and commercial enterprises. These contracts are generally for hydrographic mapping purposes, but also include survey tasks for habitat mapping and measuring the effects of climate change. Tenix LADS also has a 10 year contract with the Commonwealth of Australia to support the Commonwealth's own laser system. The relationship with the Commonwealth of Australia dates back to the 1990's with the development of the laser system.
LADS employs around 60 people and is based in Adelaide, Australia with field offices in Cairns, Australia and Biloxi, Mississippi, United States of America.
Completion of this acquisition is likely to be early in Quarter 3 2009, following the satisfaction of certain settlement conditions. Tenix LADS will be renamed Fugro LADS and will be part of the Offshore Survey Business Line.
A new study published today by analysts Douglas-Westwood The World Deepwater Market Report 2008-2012 forecasts that nearly $25 billion will be spent annually in deepwater capital expenditure by 2012. Speaking at the Deep Offshore Technology International Conference 2007, Stavanger, today, John Westwood, Douglas-Westwood MD commented that “the deepwater oil & gas industry is set for continued growth through to 2012, with over 30% growth forecast for the 2008-2012 period when compared with the previous five years.
The Arctic will become increasingly important, not least because of oil and gas, believes Norwegian foreign minister Johan Gahr Støre. But Norway will not be planting a flag at the North Pole.
BP is today announcing proposed plans for important changes to its North Sea organisation, headquartered in Aberdeen, designed to secure a long-term future for the company's oil and gas business in the UK.
GE Energy announced today it has completed the acquisition of Sondex plc to further expand its capability and expertise in oil & gas drilling and wireline technology.
ODIM ASA has reached agreement today on acquiring ABAS Crane of Aukra and Aker Brattvaag Winch in Søvik for a total of NOK 80 million. These two companies deliver such products as special cranes, lifting systems and specialised electrical winches for ships and offshore installations
