Siemens To Control Expro Holdings UK division
Siemens will take over the Connectors and Measurements Division of Expro Holdings UK, a company specializing in the oil and gas industry. The unit engineers and manufactures subsea components such as cable connectors, sensors and measuring devices under the trade names Tronic and Matre.
Tronic specializes in electrical connectors that enable power transmission and communication on subsea installations, while Matre markets a range of temperature and pressure sensors for subsea use.
This equipment forms a crucial part of the power grid that Siemens is currently developing for use on the seabed at depths down to 3000 m. In 2011, the Expro division booked sales of about €90 million, and currently has a workforce of about 450 people in the United Kingdom (Ulverston), Norway (Bomlo), the United States (Houston), Brazil (Niteroi) and Malaysia (Johor). The €470 million transaction is conditional upon approval by the responsible anti-trust authorities.
A subsea power grid will serve various power consumers such as compressors or pumps operating in the deep sea, Siemens said. Over the next few years, Siemens intends to expand its own subsea activities, also offering its full product range in Houston, Rio de Janeiro and Singapore, the company said.
For more information: www.siemens.com