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07.06.2019 kl 17:11 1348

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Akastor ASA: MHWirth strengthens onshore aftermarket services through acquisition of Bronco Manufacturing
Akastor ASA's (OSE: AKA) wholly owned subsidiary MHWirth AS ("MHWirth"), has
today entered into agreements with Bronco Holdings LLC for the effective
purchase of 100% ownership interests in Bronco Manufacturing LLC ("Bronco") for
a total consideration of USD 31.5 million (the "Transaction"). The agreements
are formally entered into through MHWirth's US subsidiary, MHWirth Inc.

Bronco is a leading provider of critical aftermarket solutions and products to
the global onshore and offshore drilling market.

MHWirth's aim is to increase Bronco's market share globally through utilizing
MHWirth's established offshore relationships and to strengthen the position in
the US onshore market by leveraging the relationships of MHWirth's new
management team. By utilizing the competencies and supply chain of Bronco,
MHWirth also sees potential on current MHWirth equipment, as well as the
potential to re-engineer relevant equipment to make it more suitable for onshore
applications.

In addition to this, Bronco will strengthen MHWirths's presence in North America
and increase local manufacturing capabilities in the Houston region.
Redigert 07.06.2019 kl 17:39

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