Technics O&G

Technics O&G: Acquires co Vietnam Offshore Fabrication & Engrg (VOFE) for not more than US$10.0m. VOFE is in the business of processing and manufacturing equipment for O&G sector as well as design, repair and engrg consultancy work. VOFE is also licensed to import and export O&G equipment and owns the largest fabrication and engrg complex with a load-out facility of 10mt psm and 5k DWT jetty. The purchase price will be based on the NTA of VOFE plus 10%. This will enable Technics to expand its physical presence in Vietnam and to bid for projects that require local content. Technics currently trades at a P/E of 9.3x