Wood Group acquires Jakarta-based wellhead equipment firm

Wood Group has acquired the business and assets of the TNG division of PT Bekasi Metal INTI Megah. The Jakarta-based business will operate as PT Wood Group Pressure Control (PT WGPC).

The acquisition transfers to PT WGPC all TNG resources and assets, including equipment and inventory. More than 50 people work at the ISO 9001-certified organisation, which manufactures and repairs API equipment under licenses 6A, 5CT and 7.

?The acquisition of TNG provides PT WGPC with an established operation and experienced personnel who understand the needs of the Indonesian oil industry. In addition, the companies? shared values of quality, integrity and responsiveness will help ease the transition to PT WGPC operations and will be leveraged as products are introduced throughout Indonesia and the ASEAN Pact countries,? said Scott Bender, president of Wood Group Pressure Control, Inc

Terms of the sale, which was completed December 19, 2001, were not disclosed.

Wood Group Pressure Control designs, manufacturers and services wellhead equipment, valves and blowout preventers for producing oil companies around the world.(*)