EANS-Adhoc: Petro Welt Technologies AG Acquires Fracturing Company in Kazakhstan
- Trican Well Service Kazakhstan (Trican) Ltd. purchased from the Canadian firm
Trican Well Service
- Expansion of market outreach to consolidate market position in the ...
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide Distribution.
The issuer is solely responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers/Company Information
01.09.2016
Petro Welt Technologies AG, Vienna, has concluded the transaction to acquire the
Kazakh fracturing subsidiary of the Canadian oilfield services company Trican
Well Service Ltd., Calgary. The acquired firm, Trican Well Service Kazakhstan
Ltd., is a specialist for fracturing and actively serves a number of
international and local customers throughout Kazakhstan. The business activities
of the company, the technologies in use and the quality of the services offered
are equivalent to the portfolio of Petro Welt Technologies. The integration of
the acquired company in the corporate structures of Petro Welt Technologies AG
is likely to be completed within the next two to three months. The responsible
competition authorities in Russia and Kazakhstan have granted their formal
approval to this acquisition.
"This is a fit for purpose deal that will produce beneficial synergies for both
companies", says Yury Semenov, CEO of Petro Welt Technologies AG, in commenting
on the transaction. "The company we acquired has a good operational performance,
a recognized track record and an extensive local presence in Kazakhstan. This
acquisition is the first step in our strategic overseas expansion designed to
strengthen the market position of Petro Welt Technologies AG in the CIS
markets", Yury Semenov adds, explaining the rationale behind the deal.
Further inquiry note:
SCHOLDAN&Comp.
Bernhard Grabmayr
office@scholdan.com
+43-1-513 23 88-0
end of announcement euro adhoc
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issuer: Petro Welt Technologies AG
Kärntner Ring 11-13
A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
