Aberdeen-based international oilfield service company Expro refused to comment yesterday on reports it was in talks to sell off one of its divisions.
The group is understood to be in discussions with German group Siemens about a possible £410million deal for Expro’s connectors and measurements unit. It employs about 450 people – less than 10% of Expro’s worldwide workforce of 5,000 – at Ulverston in northern England, Norway, America and Malaysia.
Siemens also declined to comment.
Expro, which has about 800 people in Aberdeen, was sold to private-equity interests in July 2008 for £1.81billion. The consortium of Candover, Goldman Sachs Capital Partners and AlpInvest Partners was successful in its move for the company, despite interest from US giant Halliburton.
Last month, Expro appointed a new chairman and reshaped its senior management team as it eyed more international growth. It turned to businessman Sir George Buckley to fill the vacancy left by Graeme Coutts, who stepped down as chairman last July.