A key engineering organisation based in Calgary, Canada has been purchased for a whopping ten million united states dollars. Enercore Projects Ltd has been purchased for the huge fee by a well known engineering company located in Australia Previously, the company specialised in oil and gas engineering.
The sale of Enercore Projects has been put down to the recent downturn in the price of oil. Previously the oil market was a huge part of Alberta’s economy but, the low price has meant that the industry has had to reshape in order to survive.
Enercore Projects Ltd has been operational for over nine years and has built up a great reputation. The company employ around seventy people in the local area and until recently, were a privately owned company. The announcement that it has been sold came last Friday.
Enercore Projects Ltd has been sold to Clough Ltd. It will be re branded to Clough Enercore and will add to Clough Ltd’s list of businesses. Clough Ltd provide construction, procurement and engineering services to a range of sectors and Clough Enercore will help the company crack the Canadian market.
Currently in the United States, Clough Ltd has more than one thousand engineers that work in house. As mentioned, the company previously originated in Australia but, entered the American market in 2014. The company have a team comprising of engineers based in Houston, Texas and Baltimore. The Baltimore division are a little more specialist, this team of engineers specialise in liquefied natural gas engineering.
In a statement Founder and President of Enercore Projects Ltd, Greg Roemer explained that by joining forces with the Clough group, the company will be able to access bigger oil and gas jobs in the Canadian market. The sale will also help support Clough’s other engineering projects that take place across the globe.
The Chief Executive of Clough, Kevin Gallagher also explained how Enercore Projects is a welcome addition to the company. He explained that they were a great fit and allowed the company to stick to its international expansion plan.
Clough is almost a century old, having been founded in 1919. The company is owned by the South African engineering and construction giants Murray & Roberts.read more