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.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335