Odfjell Technology , a market-leading integrated service provider, has announced its acquisition ofMcGarian TDC Ltd , a firm specialising in the design of whipstocks, casing & packer milling, fishing & remedial products.Odfjell Technology delivers value from its unique integrated business model and comprehensive portfolio of products. This acquisition will further enhance the product line offering of its Well Services Business Area, enhancing its capabilities in the slot recovery and plug and abandonment sectors of the energy industry. Commenting on the acquisition, Odfjell Technology AS CEOSimen Lieungh said, "We are delighted to welcomeMcGarian TDC Ltd to theOdfjell Technology family. Their engineering and product design capability perfectly complements our existing competencies. " Bruce McGarian ofMcGarian TDC Ltd , commented "Joining forces withOdfjell Technology presents an exciting opportunity for us to leverage our expertise on a larger scale." The consideration is made up of a base consideration of £3 Million GBP plus potential earn-outs dependent on commercial success and product development targets over the next three years post-closing. Further details are available in our Q1 2024 investor presentation published on our website. Additionally, our CEOSimen Lieungh will talk about the acquisition and answer questions during our Q1 results webcast at09:30a.m. (UK time) /10.30a.m. (Norway time) 16th of May. For further information, please contact:Gillian Basson , Corporate Secretary, +44 (0) 7796 547 889, gbas@odfjelltechnology.com,Aberdeen, United Kingdom ; orGert Haugland , SVP Finance & Investor Relations, +47 92661638, gjha@odfjelltechnology.com,Norway 16 May 2024 Odfjell Technology Ltd
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