Posted on 24.03.2010 - 12:00 UTC in ACQUISITION/MERGER NEWS by Rons_ROV_Links
A new Aberdeen-based oil services firm has been formed through the merger of two well-established local companies. OEG Offshore Limited was officially formed today (February 01, 2010) as a result of the merger of Containental Offshore Limited (Containental) and Vertec Engineering Limited (Vertec). The newly-created company specialises in the design, build and rental of cabins and cargo carrying units for the offshore oil and gas market.
All previous Vertec and Containental staff will be retained in the new company which now employs nearly 100 staff, with plans to increase this number throughout 2010.
OEG Offshore will continue to operate out of Vertec and Containental's former bases at Pitmedden Road Industrial Estate, Dyce, which have been rebranded as its Kirkton, Cothal and Pitmedden facilities.
OEG Offshore Limited Chief Executive, John Heiton, said: "The merger of Vertec and Containental allows us to offer a wider range of equipment, skills and services to both companies' existing clients and new prospects, including complete packaged solutions.
"We have a strong team in place to head up our activities, following the recent, key appointments of Craig Russell and Stuart Heggie to lead OEG's commercial and operational activities, and the arrival of John Aw to head up our new Singapore subsidiary.
"Additional senior level appointments are planned for the coming months, with the intention of further increasing and strengthening our technical expertise and adding to our experience within the module and container industry."
OEG Offshore has already committed to spending £7.5 million on increasing its rental fleet of cabins and cargo carrying units and will make additional planned investments over the next twelve months, as well as focusing on staff training and recruitment in a bid to further strengthen the company's abilities in engineering and design.
Mr Heiton added: "The synergies that exist between Containental and Vertec have already resulted in successful joint projects in recent months, and we are confident that pooling their resources under the OEG Offshore banner will benefit both the companies and their customers.
"The strategic distribution of our assets in locations such as Aberdeen, Europe, USA, Canada, Singapore and Australia has created a global network that enables OEG Offshore to deliver quick response times to customers, regardless of where they are based in the world.
"With Containental and Vertec operating under one name going forward, we can take a more streamlined approach to the management of the business, which provides a strong platform upon which we can develop our future organic and acquisition-led growth plans in the UK and overseas.