Norway: IKM Group Enters into Agreement to Acquire Cleandrill
IKM Group have entered into an agreement to acquire a majority shareholding in Cleandrill AS, which will be re-named IKM Cleandrill. Bergen based Cleandrill is a subsea technology business, specialising in collection, management and transfer of drilling fluids and cuttings.
This acquisition forms part of a significant expansion of IKM’s existing cuttings transport (CTS) business, which will include development of a new generation of Mud Recovery without Riser and zero discharge drilling technologies.
Ståle Kyllingstad, head of IKM, commented “Cleandrill’s technology and expertise complement and enhance IKM’s existing activities in the area of subsea drilling fluids management. We look forward to welcoming Cleandrill into the IKM Group and building our capabilities in this high potential market area”.
Tom Hasler, MD of Cleandrill, added “ IKM’s existing CTS business, global service organisation and broad subsea engineering capabilities create an ideal home for the further growth and development of Cleandrill”
Subsea World News Staff , December 21, 2011; Image: IKM