The world’s leading supplier of specialist offshore cargo carrying units, Swire Oilfield Services, today announced the acquisition of the assets and operating business of Australia based Weir OCI, creating the largest regional supplier of offshore cargo carrying units in the Australian and Asian region.
Weir OCI is the company’s second Australian acquisition in the past year, and takes investment in the region of more than £15 million. In August 2008 Swire Oilfield Services acquired Perth based Maritime Products & Services. The three companies together will now trade as Swire Oilfield Services Pty Ltd. With a fleet of over 1,800 units, the new entity is the largest provider of CCUs. Additionally the company will provide helifuel, filtration and pumping services, chemical handling, and specialist support services in the Australasian market.
Swire Oilfield Services and Weir OCI have forged a close relationship in recent years through the cross-marketing of company products. With bases across Perth, Dampier, Darwin and Sale the acquisition provides new market opportunities and a springboard for expansion into the Asia-Pacific market. The deal ensures that Swire Oilfield Services Pty Ltd can continue to improve its service offering and is well placed to provide for its extended customer base.
Founded in 1995 and acquired by Weir in 2003 Weir OCI employs five people and has built an enviable reputation as the pioneer in containers and baskets in the Australasian market. The company, whose clients include Woodside Energy and Toll Logistics, has an in-depth knowledge of the regional market and a proven track record of meeting high market demand.
Director and general manager of Swire Oilfield Services Limited, Rupert Bray, said: “Despite the tough trading conditions, we believe the Australian and Asian market has strong long-term potential and we are determined to continue to invest and grow our business. Combined with our recent entry into the Indian and Brazilian markets, this acquisition confirms Swire Oilfield Services as the global market leader in the offshore cargo carrying sector.”
On joining Swire Oilfield Services from Weir OCI, Kevin Brown added: “Joining Swire Oilfield Services is a positive strategic decision and we feel our local knowledge can complement Swire’s international capabilities, with exciting growth plans. Weir OCI has been working with Swire for the past two years and both parties felt the deal was an excellent fit.”