2008 acquisition was part of MIS’ growth strategy

MIS has announced today that 3C Metal International LLC (3CMI), the company it acquired in June 2008, will be renamed RIG METALS LLC, in adherence with the terms of the acquisition agreement. The new name builds on the strengths of the company which is specialised in engineering services and steel fabrication of oilfield-related equipment.

MIS’ move to acquire 3CMI was part of its strategy for growth both organically and through strategic acquisitions. With a 30,000 m² yard in Dubai Investment Park, including a 2000 m² fabrication shop, and with a core specialisation in land rig refurbishment, RIG METALS LLC complements MIS’ existing 200,000 m² yard in Sharjah and its six value streams.

Mr. Kevin Hudson, MIS’ Managing Director commented, “Over a year since its acquisition, we are pleased with the results that Rig Metals has delivered to the Group both in terms of incremental revenue and in terms of added services. We look forward to further developing this part of the business in the coming years.”

Rig Metals, which today enters its fifth year of operations in the region, is particularly focused on land rig refurbishment and high pressure piping fabrication and enjoys a diverse customer base.

Mr. Hani El Kurd, Operations Manager of Rig Metals said, “During its five year history, Rig Metals, (formerly 3CMI) has built a reputation for itself through its flexible, dynamic and tailor-made approach to the oilfield services business. We are pleased to have a number of repeat order clients, both international and regional.”

Maritime Industrial Services Co. Ltd. Inc. (MIS)
Rana Said, Corporate Communications Director
Tel: +9716 5285345 ext. 723
E-mail: rana@mis.ae