Business News
Aggreko Enhances Canadian Presence With Acquisition of Power Plus Rentals and Sales
2008-08-19 07:30:00
Global Leader Brings Experience And Expertise to Canadian Market
HOUSTON and EDMONTON, Alberta, Aug. 19 /EMWNews/ --
Aggreko, the global leader in temporary power, temperature control and
oil-free compressed air solutions, announced today that it has strengthened
its Canadian presence by acquiring all the assets of Power Plus Rentals and
Sales (Power Plus). Power Plus is a highly regarded rental power specialist
in Alberta.
Aggreko has a long history with major oil and gas operations all over
the world, having served as a specialist in Dubai, the UK, South America
and the Gulf of Mexico region of the USA. "The combination of our
background in the oil and gas industry and the increased demand for
services like ours in the oil sands of Canada makes this a promising market
for Aggreko," said George Walker, President of Aggreko North America.
Aggreko's Canada Business Unit also has service centers in Sarnia, Toronto
and Edmonton.
Power Plus provides specialized rental power solutions to businesses in
the Athabasca Oil Sands in Alberta and Saskatchewan, where more than CN$10
billion a year is being invested in the development of the world's second
largest oil reserve. This acquisition provides Aggreko with access to
skills and experience in designing and operating equipment in extremely
cold environments, including remote camp sites, and strengthens its ability
to service oil and gas and refining customers.
"Aggreko recognizes that Power Plus is a leader in service and support
for its industry. We believe it makes solid business sense for us to come
together to build an even stronger local brand with substantial global
expertise behind it," said George Walker. "Together under the Aggreko name,
we will have more people and resources to provide superior service and
support in the oil and gas sector in Western Canada and possibly beyond."
This transition will bring 34 experienced and skilled Power Plus
employees into Aggreko's Western Canada business, including 22 technicians.
David Lassu, the proprietor of the Power Plus business, has agreed to work
with Aggreko as a consultant over the next two years.
"There is huge opportunity in Western Canada that requires significant
investment in fleet, people and infrastructure. Aggreko is a global company
with the financial resources to make these investments. And Aggreko, with
its customer and employee focus, is the best fit for this business I
started 6 1/2 years ago," said Lassu. "Our business practices of reliable,
personalized local service are very similar, which will make the customers
confident with the transition and service. I couldn't be more pleased with
this arrangement."
The expansion supports Aggreko's strategy of growing its core business
in rental power and temperature control to serve Western Canada. In May
2008, Aggreko was announced as the Official Supplier of Power and
Temperature Control for The Vancouver 2010 Olympic and Paralympic Winter
Games.
About Aggreko
Aggreko plc is the global leader in the rental of power, temperature
control and oil-free compressed air systems. We help customers in many
different industries to improve and safeguard their operations by solving
problems, creating opportunities and reducing risk. Aggreko provides 24/7
availability and service support with approximately 3000 employees
operating from over 120 locations in 31 countries. In 2007 we served
customers in 100 countries, and had revenues of approximately $1b. Aggreko
plc is listed on the London Stock Exchange (AGK.L) and headquartered in
Scotland. For more information, please access the company website at
http://www.aggreko.com/northamerica.
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