Aggreko Enhances Canadian Presence with Acquisition of Power
Plus Rentals and Sales
Global Leader Brings Experience and Expertise to
Canadian Market
HOUSTON, TEXAS (August 18, 2008) - Aggreko, the
global leader in temporary power, temperature control and oil-free
compressed air solutions, announced today that it has strengthened
its Canadian presence by acquiring all the assets of Power Plus
Rental and Sales (Power Plus). Power Plus is a highly regarded
rental power specialist in Alberta.
Aggreko has a long history with major oil and
gas operations all over the world, having served as a specialist in
Dubai, the UK, South America and the Gulf of Mexico region of the
USA. “The combination of our background in the oil and gas
industry and the increased demand for services like ours in the oil
sands of Canada makes this a promising market for Aggreko,” said
George Walker, President of Aggreko North America. Aggreko’s
Canada Business Unit also has service centers in Sarnia, Toronto
and Edmonton.
Power Plus provides specialized rental power
solutions to businesses in the Athabasca Oil Sands in Alberta and
Saskatchewan, where more than CN$10 billion a year is being
invested in the development of the world’s second largest oil
reserve. This acquisition provides Aggreko with access to skills
and experience in designing and operating equipment in extremely
cold environments, including remote camp sites, and strengthens its
ability to service oil and gas and refining customers.
“Aggreko recognizes that Power Plus is a
leader in service and support for its industry. We believe it
makes solid business sense for us to come together to build an even
stronger local brand with substantial global expertise behind it,”
said George Walker. “Together under the Aggreko name, we will have
more people and resources to provide superior service and support
in the oil and gas sector in Western Canada and possibly
beyond.”
This transition will bring 34 experienced and
skilled Power Plus employees into Aggreko’s Western Canada
business, including 22 technicians. David Lassu, the proprietor of
the Power Plus business, has agreed to work with Aggreko as a
consultant over the next two years.
“There is huge opportunity in Western Canada
that requires significant investment in fleet, people and
infrastructure. Aggreko is a global company with the financial
resources to make these investments. And Aggreko, with its customer
and employee focus, is the best fit for this business I started 6 ½
years ago,” said Lassu. “Our business practices of reliable,
personalized local service are very similar, which will make the
customers confident with the transition and service. I
couldn’t be more pleased with this arrangement.”
The expansion supports Aggreko’s strategy of
growing its core business in rental power and temperature control
to serve Western Canada. In May 2008, Aggreko was
announced as the Official Supplier of Power and Temperature Control
for The Vancouver 2010 Olympic and Paralympic Winter Games.
About Aggreko
Aggreko plc is the global leader in the rental of power,
temperature control and oil-free compressed air systems. We help
customers in many different industries to improve and safeguard
their operations by solving problems, creating opportunities and
reducing risk. Aggreko provides 24/7 availability and service
support with approximately 3000 employees operating from over 120
locations in 31 countries. In 2007 we served customers in 100
countries, and had revenues of approximately $1b. Aggreko plc is
listed on the London Stock Exchange (AGK.L) and headquartered in
Scotland. For more information, please access the company website
at www.aggreko.com/northamerica.
Media
Contacts:
Tricia Coghlan
Richards/Carlberg
Tricia_Coughlin@RichardsCarlberg.com
713.964.3606
Amy Stine
Aggreko, LLC
Amy.Stine@Aggreko.com
281.985.8286
Simon Lyons
Aggreko Plc
Simon.Lyons@Aggreko.co.uk
+44.141.2255900