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.