Bri-Chem Announces Oklahoma Drilling Fluids Wholesaler Acquisition
- Published: Thursday, 13 December 2012
- Author: Maurice Smith
The business operates as a wholesaler primarily in the state of
The total purchase price is approximately US$2.5 million which includes a US$250,000 one year vendor takeback and the issuance of US$200,000 in common shares of Bri-Chem. Subject to receipt of TSX approval, closing is expected to be on or before Dec. 31.
Since its formation in 1985, Bri-Chem has established two primary segments of business through a combination of internal growth and acquisitions: Bri-Chem's Drilling Fluid Division is
It provides over 100 drilling fluid products, cementing, acidizing and stimulation additives from 25 strategically located warehouses throughout Canada and the United States; Bri-Chem's Steel Pipe Division is the first company to introduce and construct a Thermal Pipe Expansion (TPE) facility in North America for manufacturing, testing and supply of large diameter seamless steel pipe for the energy industry.