Medserv is to invest US$46 million (€40.1m) in an expansion drive in the Middle East.
The company said this afternoon it had entered into a conditional share purchase agreement for the acquisition of METS Group, a group of companies based in the Middle East.
The METS Group provides and operates a comprehensive threading, repair, inspection and storage service for oil country tubular goods. It maintains three sites
namely in Sharjah, Oman and in Basra, Iraq having a total area of 292,000 square
metres.
Medserv provides oil and gas logistics support bases for the oil and gas industry, offering end-to-end logistics and engineering solutions.