Cape plc Cape establishes joint venture with OLIO Resources (9346K)
06 January 2016 - 6:00PM
UK Regulatory
TIDMCIU
RNS Number : 9346K
Cape plc
06 January 2016
News Release
6 January 2016
Cape establishes joint venture with OLIO Resources
Cape plc, an international leader in the provision of critical
industrial services to the energy and natural resources sectors, is
pleased to announce that it has formed a Joint Venture company with
OLIO Resources Sdn Bhd ("OLIO"), to bring together the capacity,
experience and skills of both organisations in order to serve the
Malaysian market.
Established in 1995 by a group of Malaysian entrepreneurs with a
combined experience of over 100 years in the oil and gas industry,
OLIO provides a range of products and services to the Oil, Gas and
Energy industries.
Joe Oatley, Chief Executive of Cape commented: "We are pleased
to enter into this joint venture with OLIO to establish a company
dedicated to the Oil and Gas services market inside Malaysia and
look forward to a long standing successful bond between both
companies".
Dato' Ramli Md Nor, Group Executive Chairman of OLIO commented:
"We are very excited about this partnership between OLIO and Cape
which we believe will form an important part of our vision to
become a leading solutions provider to the Oil, Gas and Energy
market in the region"
About Cape:
Cape is an international leader in the provision of critical
industrial services principally to the energy and natural resources
sectors. Cape provides a multi-disciplinary service offering
including the traditional services of access, insulation, coatings
and mechanical, and a range of specialist services including oil
and gas storage tanks, heat exchanger replacement and
refurbishment, and environmental services. Cape employs over 17,000
people working across 21 countries and in 2014 reported adjusted
revenue of GBP698.3 million.
About OLIO:
OLIO has experienced tremendous growth since its inception more
than 20 years ago. Clients who engage OLIO's services in their
upstream oil & gas activities are PETRONAS and their Production
Sharing Contractors (PSCs) in Malaysia, namely Shell, ExxonMobil,
PETRONAS Carigali, Murphy Oil and Talisman Energy. While OLIO's
clients who engage in downstream oil and gas processing activities
consist of chemical and petrochemical plants, gas processing plants
and oil refineries.
- End -
Enquiries
Cape plc
Joe Oatley, Chief Executive +44 (0) 1895 459 979
Michael Speakman, Chief Financial Officer +44 (0) 1895 459 979
Buchanan +44 (0) 207 466 5000
Bobby Morse, Ben Romney, Helen Chan
This information is provided by RNS
The company news service from the London Stock Exchange
END
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