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Hunting Welltonic News
Welltonic acquired by Hunting - 10.12.09
Hunting PLC (LSE:HTG), the international energy services company recently announced the acquisition of the Hunting Welltonic Group of Companies (“Hunting Welltonic”), a provider of well intervention services.
David Deans, Managing Director of Hunting Welltonic Ltd said: “We are very pleased to join the Hunting group of companies and believe that this will allow Hunting Welltonic to expand our product and service offering without sacrificing our position as an independent company with a total focus on Thru Tubing services. Re-branded as Hunting Welltonic, we will continue to offer unique benefits to the Coiled Tubing industry, providing advanced solutions for a wide range of Coiled Tubing Interventions. The strength of the Hunting group offers many opportunities and we look forward to the next stage of the company’s development”
Commenting on the acquisition, Dennis Proctor, Chief Executive Officer of Hunting said: “This acquisition is another bolt-on transaction which strengthens our international presence while providing increased exposure to the high margin well intervention market. Hunting Welltonic complements our existing activities in what management and wider market commentators believe to be a high growth sector.”
