Kentz Corporation buys South African engineering services firm RNE.

By bne IntelliNews February 10, 2011
Irish engineering firm Kentz Corporation Limited has acquired South Africa-based provider of specialist engineering solutions services RNE Engineering and Projects Ltd., for some USD 10mn in cash. RNE is a specialist engineering solutions service provider, which serves clients in the oil and gas, petrochemical, mining and metals sectors. It is involved in both capital expenditure projects and asset enhancement production services and has approximately 85 employees based in two offices in Secunda and Sasolburg, South Africa. The acquisition will be earnings enhancing in the first full year of ownership, the buyer said in a statement. Kentz, which has over 10,500 employees in 27 countries, generated revenues of USD 704.7mn and pre-tax profit of USD 44.5mn in the year ending December 2009.
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