Westburne exits oil field supply

Article Abstract:

Westburne Inc., a Montreal, Quebec-based building equipment and supplier distributor, has sold its oil field supply business to Houston, TX-based National-Oilwell Inc. for over C$80 million. The sale included Westburne's Dosco division, Technical Sales and Maintenance Ltd., and Regulator Repair Service Ltd. Westburne's move to exit from the oil field supply business was prompted by the recent volatility of the business and the expected shakeout of the industry. Recently, the oil field supply business has been in a downturn, along with the oil field services business and crude prices. Under the terms of the deal, Westburne will get three million National-Oilwell shares, which amount to 6% interest in National-Oilwell, and C$10 million in cash.

Comment:

Acquires the oil field supply bsns of Montreal, Quebec-based Westburne Inc for over C$80 mil

Industrial Machinery and Equipment Wholesalers, Quebec, Oilfield Equip & Supplies Whsle, Wholesale trade, Oil field equipment, Westburne Inc., National-Oilwell Inc.

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Cargill to buy Continental unit

Article Abstract:

Minneapolis, MN-based Cargill Inc. is looking to acquire Continental Grain Co.'s international business for grain products. The proposed sale of Continental Grain's international grains business to Cargill will reinforce Cargill's status as the top exporter of grain products worldwide. The proposed acquisition deal, however, is expected to have minor direct effects on the Canadian grains business, since only a Vancouver, Brit Colum, facility for grain trading will undergo an ownership transfer under the planned agreement.

Comment:

Looks to acquire Continental Grain's international business for grain products

Chemicals & Allied Products, Chemical Manufacturing, World, Farm Products Whsle, Farm Product Raw Material Wholesalers, Chemicals, Agricultural products wholesalers, Cargill Inc., Continental Grain Co.

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