Brazil’s Wilson, Sons acquires port services operator

Brazil’s Wilson Sons Limited  has, through its wholly-owned subsidiary Brasco Logistica Offshore Limitada (Brasco), signed a contract for the acquisition of 100% of the issued share capital of Bric Brazilian Intermodal Complex S/A. (Briclog) for Brazilian Reais (R$125) million). Briclog provides port services to the oil and gas industry. The closing of the acquisition is subject to various conditions, including a 30-year lease right to operate in a defined 66,860 square meter area in the Bay of Guanabara, Rio de Janeiro, Brazil, together with the assignment of certain other lease contracts to Briclog.

Wilson Sons expects strong growth in the business through synergy with the existing Brasco operations and client base, together with overall growth in the Brazilian offshore oil and gas industry.

As part of Wilson, Sons, Brasco is an integrated port and logistics service provider to the oil and gas industry with a capacity to setup and operate support bases along the whole Brazilian coast. Brasco services include materials management, purchasing, storage, transport, supply of fresh water, fluids for drilling and well completion, fueling of vessels, heavy cargo handling, casing/pipe inspection, container rental, waste management and administrative support.

June 3, 2011