Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business, as well as its aftersales and aftermarket services.

 

The acquisition will not only broaden Keppel (KPELF) O&M's suite of jackup rig designs but also expand its business in the provision of aftersales and aftermarket services, the company said.

 

The acquired company will operate as Keppel LeTourneau with offices in the United States, United Arab Emirates and Singapore.

 

Chow Yew Yuen, CEO of Keppel O&M said, “This strategic acquisition will complement Keppel O&M's existing capabilities and enable us to provide our customers with a full suite of end-to-end jackup rig solutions. With Keppel's and LeTourneau's combined engineering resources, international shipyard presence and design and equipment manufacturing competencies, we are confident of providing even better value-added solutions to drilling operators.”