RBG acquires bolting business in Trinidad
19/02/2008
RBG Limited (RBG), the integrated oil, gas and petrochemicals services contractor, has announced it has completed the acquisition of Portable Works Limited, the largest provider of mechanical bolting solutions in Trinidad & Tobago.The acquisition complements RBG's existing business in Trinidad, by broadening its service offering in line with its capabilities elsewhere in the world. From its existing facilities in Point Lisas and Galeota Point, RBG provides a range of integrated maintenance services on the onshore and offshore assets of its major customers.
The new company will operate under the name of RBG Portable Works and will relocate to RBG's Point Lisas facility. Portable Works' major shareholder and Managing Director, Shaun Spiers, will continue to manage the business and will retain a shareholding in RBG Portable Works.
RBG's Chief Executive Officer, Doug Sedge, told ndtnews.org: "I am delighted to welcome Portable Works into the RBG Group. Led by Shaun Spiers, the business has a strong position with many of the customers we serve and its acquisition will reinforce our position in what we see as an attractive market."
Commenting on the sale, Shaun Spiers said: "I am excited by the opportunity to take the business to the next level with the support of a company with the international reputation and infrastructure of RBG."
RBG has operated in Trinidad since 2003 and acquired Wilcox Engineering in 2004. The company employs in the region of 300 personnel, the vast majority of whom are local nationals. The acquisition of Portable Works Ltd will increase RBG's total number of employees in Trinidad to approximately 370.
