Oceaneering’s Norwegian subsidiary, Oceaneering AS, has entered into a definitive agreement to acquire Mechanica AS. The transaction is subject to approval by the Norwegian Competition Authority.
Mechanica, headquartered in Stavanger, Norway, is a design and fabrication company specializing in remotely operated subsea tools for the offshore oil and gas industry. Oceaneering said on its website that Mechanica’s 2010 revenue was approximately $12 million.
[mappress] Offshore Energy Today Staff, December 7, 2011; Image: Mechanica