DGAP-News: Bolser acquires 60% of Argentinean Company IBSA specialized in industrial cleaning and infrastructure services for the oil and gas industry
(firmenpresse) - Bolser Plc. / Acquisition
07.06.2010 09:00
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Bolser acquires 60% of Argentinean Company IBSA specialized in industrial
cleaning and infrastructure services for the oil and gas industry
London, June 7th, 2010, 9:00am (GMT). BOLSER, a leading provider of civil
and mechanical construction services for the oil, gas and mining industry
in Bolivia, announced that the Company has signed an agreement to acquire
60% of IBSA, a company with an excellent market presence for rendering
services to international oil and gas companies such as REPSOL, OXY
(Vintage Petroleum Bolivia) and others. IBSA's main services are vacuum and
hydro cleaning of storage facilities and vessels.
With this acquisition, Bolser's objective is to complement the maintenance
of pipelines and tanks by broadening its scope of services with tank and
vessel cleaning, spill control and waste management. The acquisition
included 3 truck-mounted turbines, related equipment and tools as well as
on going long term contracts with Repsol and OXY (Vintage Petroleum
Bolivia) that assure immediate revenues. IBSA, originally established in
Argentina, has been working in Bolivia for the last eight years.
As part of the campaign to secure new contracts, an additional contract has
been recently signed with Saguapac, the company that provides water for the
city of Santa Cruz and is responsible for maintaining the pluvial system.
IBSA's potential yearly net income for the market of Bolivia alone is of
approximately US$ 190 thousand. Amount that would be increased
significantly when these services are marketed by Bolser subsidiaries in
Brazil and Peru.
About the Company
Bolser PLC ('Bolser',) is a UK registered publicly company with its shares
listed on the Frankfurt Stock Exchange (WKN: A0Q77H). Bolser PLC owns 99%
of the subsidiary group made up of 3 companies. Bolser Ltd., (Bolivian Oil
Services Ltda.) was founded in 1975 by the Hinojosa family. The Company and
its more than 300 employees has been a long time leader in the oil, gas and
mining infrastructure construction industry. Bolser is a specialist in the
construction and maintenance of pipelines, roads, bridges, manufacturing
and storage sites of various types. The Company is known by its clients for
its excellence in the application of quality, health, safety and
environment systems with international standards such as ISO 9001:2000, ISO
14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the
logistical characteristic of the region and is currently focused on
participating in the expansive demand for oil and natural gas
infrastructure of the Southern Cone, specifically in Bolivia, Brazil and
Peru.
Further information can be found on the Bolser website under:
www.BolserPlc.com
Disclaimer
This press release contains forward-looking statements based on beliefs of
Bolser Plc management. When used in this press release, words such as
'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan' and
'project' are intended to identify forward-looking statements. Such
statements reflect the views of Bolser as of the date made with respect to
future events and are subject to risks and uncertainties. Many factors
could cause actual results to be materially different from those projected
here, including, among others, changes in general economic and business
conditions, changes in currency exchange rates and interest rates,
introduction of competing products, lack of acceptance of new products or
services and changes in business strategy. Bolser disclaims any intention
or obligation to update these forward-looking statements.
Contact Information
ir(at)BolserPlc.com www.BolserPlc.com
Bolser Plc. - Registered in England&Wales
Vintners Place
68 Upper Thames Street
London EC4V 3BJ, United Kingdom
U.K Company No. 05140206
07.06.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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