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First Buy in Colombia for ITS Group
Invest in Bogota
17.11.2010



The Press and Journal, a publication from Scotland, informed in a recent article that the ITS Group has continued its international expansion with its first acquisition in Colombia, South America.

The Press and Journal said, “ITS, a provider of equipment and services to the oil and gas industry, said it had bought specific business and assets from a Colombian oilfield service company for an undisclosed sum (…) The operation provides tubular and downhole-tool rental services, tubular and casing running services and inspection services”. 

ITS revealed to the newspaper that the equipment, plus two sites and 29 employees, would help accelerate the firm’s investment plans for Colombia and the wider region. Additionally, Chief executive Jeff Corray said: “The Colombian acquisition is a good example of our commitment to growth and fits nicely with our investment strategy for Central and South America, ensuring we have equipment and service capability where our customers want it and… delivered with local expertise”.

Mr. Corray concluded, “Whether this is through the recruitment of key personnel to bring more focus and value to relationships with our customers, or the continued growth of our global infrastructure, we are developing a platform that will allow us to become a truly global oilfield service company.”



Source: Invest in Bogota 17.11.2010


Read the article about the ITS investment on an oil & gas services company in Colombia


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