NEWS ROOM  
 

:: Oil & Gas News
:: Company News

 
     
     
     
     
     
     
     
     
     
     
     
     
     
 

COMPANY NEWS

 
     
 

UWG Group acquires MENCK

Posted: 2 September 2003

UWG Group, a leading innovator in Deepwater Riser Solutions, Well Systems and Well Decommissioning strengthened its product offering by acquiring MENCK GmbH, the German-based anchoring and foundations specialist from J Ray McDermott SA.

MENCK is already a highly successful and financially strong international market leader in anchoring and foundation solutions. It has been at the forefront of innovation in the pile driving industry since the company¹s formation in 1868.

UWG Group's Sales & Marketing Director, Paul Alcock, said: "We have historically focussed on providing innovative engineering and equipment for Risers and Wells between the mudline and surface facilities.

MENCK's expertise in foundations supports our long-term strategy to offer complete mudline-to-facility solutions for all water depths and field applications.

As we can offer the full-cycle of engineered interface solutions from design to decommissioning, this recent development is good news not only for us, but for the industry as a whole.

It is intended that the MENCK brand will continue unchanged and sit alongside UWG Group's other established member companies 2H Offshore, Team Energy Resources, Claxton Engineering Services and WellCut, Inc.

Bernard Bruggaier will continue as Managing Director of MENCK, reporting to Richard Higham, CEO of UWG Group. Based in Hamburg, Germany, MENCK currently employs approximately 70 staff.

UWG Group Limited was advised by KPMG Corporate Finance and Eversheds Solicitors, with funding provided by Bank of Scotland Corporate Banking Aberdeen. Lime Rock Partners is an equity investor in UWG Group.

About UWG/MENCK

  • The acquisition of MENCK by UWG Group has been made for an undisclosed sum
  • MENCK designed and built the world¹s first hydraulic hammer capable of operating underwater. In 2001 MENCK broke its own pile driving depth record with the installation of piles at 3,890 ft on the Boomvang-Nansen Spar development.
  • UWG was recently awarded a Queen¹s Award for Enterprise: Innovation 2003 for the Suspended Well Abandonment Tool (SWAT)
  • This is the second major acquisition for the UWG Group this year. In May UWG strengthened its well decommissioning portfolio by acquiring the technology and assets of Hydrodynamic Cutting Services (HCS) in Lafayette, USA, renaming it to form WellCut Inc.
  • UWG Group member companies include UWG Ltd, Team Energy Resources Ltd, Claxton Engineering Services Ltd, 2H Offshore and WellCut, Inc.

For fmore information see www.uwggroup.com.

Posted by Richard Price, Editor Pipeline Magazine

Information supplied by companies or PR agencies who are responsible for content. Send press releases to info@pipelinedubai.com

 
     

© Copyright 2002. Reflex Publishing and Print. All rights reserved.
Pipeline Magazine, PO Box 53777, Dubai Media City, Dubai, UAE
Tel: +971 4 3910 830 | Fax: +971 4 390 4570 | E-mail - info@pipelinedubai.com