Expro International Group

Infobox Company
company_name = Expro International Group
company_
company_type = Private
foundation = 1973
location = Reading, UK
key_people = Chris Fay, Chairman
Graeme Coutts, CEO
industry = Energy
products =
revenue = £609.7 million (2007)
operating_income = £93.2 million (2007)
net_income =
num_employees =
parent = Candover-led consortium
subsid =
homepage = [http://www.exprogroup.com www.exprogroup.com]
slogan =
footnotes =

Expro International Group is a leading British-based oil and gas well management business. It is headquartered in Reading.

History

The business was founded by J. Trewhella, J. Ross and H. Green in 1973 at Great Yarmouth as "Exploration & Production Services (North Sea) Ltd" with the objective of carrying out well testing in the North Sea. In 1986 some 84% of the company was acquired by Flextech from whom the management subsequently bought out the business in 1992. The company was first listed on the London Stock Exchange in 1994. In 2006 it acquired PowerWell Services, another leading well management concern. [ [http://www.offshore-mag.com/display_article/272411/9/ARCHI/none/none/1/BUSINESS-BRIEFS/ Offshore] ]

Takeover

In May 2008 Halliburton made a £1.7bn takeover offer for the business, [ [http://www.efinancialnews.com/usedition/index/content/2350747649 Expro / Halliburton] ] while a competing bid worth £1.8bn was made the following month by a Candover-led consortium. [ [http://www.ft.com/cms/s/0/33324a48-43d6-11dd-842e-0000779fd2ac.html?nclick_check=1 FT.com] ] An improved bid from Halliburton was then rejected by the Expro board, a position backed by the High Court after an appeal lodged by a group of activist shareholders. [cite news|url=http://dealbook.blogs.nytimes.com/2008/06/27/judge-rejects-hedge-funds-attempts-to-block-candover-expro-deal/|title=Judge Rejects Hedge Funds’ Attempts to Block Candover-Expro Deal|last=Ross Sorkin|first=Andrew|date=27 June, 2008|work=The New York Times|accessdate=2008-07-01] The acquisition of Expro by the Candover consortium was completed on 1 July, 2008. [cite web|url=http://www.ftse.com/tech_notices/2008/Q2/19729_20080626_Expro_International_update.jsp|title=Expro International Group PLC (UK): Scheme of Arrangement - Update|date=26 June, 2008|publisher=FTSE Group|accessdate=2008-07-01]

Rumours from within the Candover group suggest that they will sell the Well Testing and Subsea Divisions to Halliburton before the years end.

tructure

The business is organised into two geographic areas:
* Eastern hemisphere - Europe, Former Soviet Union, Middle East and Asia
* Western hemisphere - North America, Latin America

References

External links

* [http://www.exprogroup.com Official site]