UAE's oilfield equipment firm NTS acquires Houston-based Amega West Services
Deal gives NTS a wider geographic reach with new assets in Canada, Singapore and US
Dubai: UAE-based oilfield equipment maker NTS Group has acquired Amega West Services from Carpenter Technology Corporation. Based in Houston, Amega West has plants in the US, Canada and Singapore.
The acquisition allows NTS to establish itself as a “global leader in manufacturing of drilling, subsea, top-side and process components,” the company said in a statement. NTS also signed a supply deal with Carpenter Technologies to continue using the specialty steel maker’s proprietary non-magnetic alloys.
As a result of this deal, NTS will now have eight manufacturing and service facilities across strategic oil and gas (O&G) locations. “The addition of Amega West Services transforms NTS Group from a regional to a global service provider to the oil and gas sector," said Paul McMillan, NTS Group CEO. "From our strategic hubs, we will combine the strengths of both companies to offer customers an unrivalled range of manufacturing, repair and rental options.”
Set up in the UAE in 2006, NTS Group was acquired last year by a joint venture between Tubacex and ADQ’s Senaat with the goal of creating a global specialist manufacturing and services company for drilling tools and equipment.
“Amegais thrilled to join NTS Group," said Reddy Godula, Amega West's President. "Collectively, we will further enhance our strong position in North America and expand as a global force with a complementary portfolio.”