Hunting pounces on PT SMB

Hunting Plc, a London-based energy services company, has acquired PT SMB Industri, an Indonesia-based manufacturer of appliances for the oil and gas industry for $10.5 million (£6.6 million). 


Hunting Plc, a London-based energy services company, has acquired PT SMB Industri, an Indonesia-based manufacturer of appliances for the oil and gas industry for $10.5 million (£6.6 million). 

Hunting Plc, a London-based energy services company, has acquired PT SMB Industri, an Indonesia-based manufacturer of appliances for the oil and gas industry for $10.5 million (£6.6 million).

PT SMB employs 190 personnel and currently provides threading and machining services to Hunting’s regional operations in Singapore. The company generated pre-tax profits of $1.9 million in 2008.

Dennis Proctor, chief executive officer of Hunting, said: “This acquisition secures essential manufacturing and threading capacity for our growing Asia Pacific regional activities.”

Hunting reported an increase in revenue of ten per cent to £440 million in 2008, with pre-tax profits increasing by 25 per cent to £58.9 million.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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