James Fisher Merges RMS and P

RNS Number : 6908R

Fisher (James) & Sons PLC

05 May 2009

 



5 May 2009 

JAMES FISHER MERGES RMS AND PUMPTOOLS

James Fisher and Sons plc is pleased to announce the strategic merger of Remote Marine Systems Ltd (RMS Ltd) and Pumptools Ltd in their Offshore Oil division. 

Pumptools Ltd, the Aberdeen-based artificial lift completion specialist and RMS Ltd, the Yorkshire based electrical penetrator specialists, will capitalise on the strength of their synergies to further develop their successful track records and to offer a wider product range.  

The new company, RMSpumptools Ltd., will manage its operations from Pumptools' existing premises in Aberdeen, while manufacturing will be based at RMS's facilities in Yorkshire. The company will employ 70 people. The merger will also create a new subsea division - a key target market for RMSpumptools. 

Both companies benefit from the same customer base and will be able to capitalise on an internationally recognised business. The unique depth of skills in both businesses will strengthen RMSpumptools' capability to innovate and develop products that will improve the application of ESPs and their life expectancy around the world. RMSpumptools will supply international customers including BP, Shell, Exxon Mobil and Chevron-Texaco. Furthermore the news follows last week's announcement that RMS Ltd was awarded the Queen's Award for Enterprise.  

The two divisions are both established suppliers to the technically demanding North Sea market as well as around the globe. RMSpumptools is committed to providing market leading reliability and value to the global energy industry.  

Stan Foster-Rooke, Managing Director RMSpumptools, said:

'This merger heralds a new era in the history of two well established key technology suppliers. The move will provide improved customer service and our one source supply will streamline our operations and improve our competitive advantage, increasingly demanded by our customers in today's challenging economic climate.' 

Contact

James Fisher and Sons plc  RMSpumptools Ltd.	Nick Henry Stan Foster-Rooke	CEO Managing Director	020 7614 9508 01224 774 771
Financial Dynamics	Sophie Moate Richard Mountain	Consultant Managing Director	020 7269 7121

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