ROVworld Subsea Information

Fugro acquires companies in India and Australia
Date: Monday, August 18, 2008 @ 15:00:00 EDT
Topic: ACQUISITION/MERGER NEWS


Fugro acquires companies in India and AustraliaFugro has acquired NexTerra Geophysical Solutions Private Limited in Kolkata, India, as well as the Australian based company SureSpek ISS Pty Ltd.

NexTerra

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

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.






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