Nice find there Sage, I didn't even look for it as I was following another trail. I see sense-edm just acquired wellquip on the Oslo exchange.
Sense EDM acquisition of Wellquip 15/01/08 (Last updated 15/01/08 - 09:54)
Reference is made to statement to Oslo Stock Exchange 02 November 2007 regarding letter of intent concerning acquisition of all shares in Wellquip Holding AS (Wellquip) in Kristiansand, Norway at a price of NOK 70m plus an ‘earn-out of NOK 20m, depending on the company’s development during 2008 and 2009.
TTS has now conducted a due diligence review of the company, which was successful. TTS’ (Sense EDM AS) take-over of Wellquip will be made effective as of medio January 2008. http://www.wellquip.no/?articleid=62
I know for a fact we have one of Ihub's top Oslo experts posting here. Maybe he has some insights.
Now this might be where we fit in... Mud Control System Instrumentation "Sense MUD represents a variety of sub suppliers for instrumentation to the offshore industry. Sense MUD can deliver the entire instrumentation package for the mud LP/HP, mud treatment and bulk system." http://www.sense-mud.com/Products1.aspx?id=4
Sage, Sense-EDM acquired Wellquip, Sense-EDM is also called TTS Marine and trades the Oslo exchange.
TTS has now conducted a due diligence review of the company, which was successful. TTS’ (Sense EDM AS) take-over of Wellquip will be made effective as of medio January 2008.
here is some history from a feb 2007 pdf: TTS Marine ASA History TTS Established in 1966 Listed on Oslo Stock Exchange in 1995 Acquired Mongstad Engineering AS in 1996 Acquired Norlift AS in 1997 Acquired Aktro AS in 2000 Established Joint Venture in Shanghai, China in 2001 Sold TTS Construction AS in 2001 Acquired HamworthyKSE AB, Dry Cargo in 2001 Acquired Hydralift Marine and sold TTS Aktro, 2001 Established office in Pusan, Korea in 2002 Acquired 100% of JV in Shanghai, China in 2004 Acquired LMG Cranes in Lubeck, Germany in 2004 Acquired Liftec Oy in Tampere, Finland in 2004 Established TTS BoHai Machinery, Dalian, China, 2005 Etablished TTS Inc.,Fort Lauderdale, USA in 2005 Acquired NavCiv Engineering AB, Sweden in 2005 Acquired Kocks GmbH in Bremen, Germany in 2005 Established TTS Marine s.r.l., Genova, Italy in 2006 Established TTS Vietnam, Hai Phong, in 2006 Acquired ICD Projects AS, Ålesund, Norway in 2007 Acquired Sense EDM AS,Kristiansand, Norway, May 2007 Acquired Sense MUD AS,Kristiansand, Norway, June 2007 Established Sense Drill Fab AS, Norway, June 2007 Established Sense EDM Pte Ltd, Singapore, July 2007 Established TTS Keyon Marine Equipment,Shanghai, Sept 2007 Acquired Wellquip Holding AS,Kristiansand,Norway, Jan 2008
"The acquisition of Wellquip AS is a major step further in TTS' targeting of the third business area; drilling and offshore, which comes in addition to ship equipment and port equipment. "
This feb. they announced some delays on delivery of drilling rigs, and I have no idea if EW is even a part of these rigs.
The land rig concept is based on offshore technology as far as control, automation, environment and security concerns, and thus represents high-end technology for land rigs.
TTS has previously signed contracts with Ability for delivery of 4 onshore drilling rigs and two work-over rigs. In total TTS have 9 onshore rigs and 2 work-over rigs in order, with at total contract value of approximately NOK 1,1billion.
So what does all this tell us? 1. At one time EW and division of TTS had "an agreement to share and develop complementary drilling and marine technology, while jointly providing sales and support of current products to their combined customer base onshore and offshore the United States, the North Sea, Southeast Asia, West Africa, the Mediterranean, Brazil, Russia, India and the Middle East.
2 TTS makes drilling rigs, both landbased, with an increased focus on Deepwater. ............................
My thanks to 10bagger, who located most of these company links and helped me as a guide to the Oslo Exchange.~~~> Neither of us makes any claims or hold any opinions about these companies, for investment or otherwise.<~~~ This post is my opinion only, my opinion alone, and posted for discussion purposes only.
Market Data 
Markets 
AI
