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ADES International Holding PLC

ADES International launches integration project for recent acquisitions

The firm said the project will respect all existing client commitments, with strong governance installed for guidance and to minimise the impact on daily operations

Integration
The integration will run across 2019

ADES International Holdings Ltd (LON:ADES) has unveiled a project to integrate its recent acquisitions in a move to improve value delivery.

The firm, which provides drilling and production services to the oil & gas sector in the Middle East and North Africa, said the project will run through 2019 and respect all existing client commitments, with strong governance installed for guidance and to minimise the impact on daily operations.

READ: ADES International secures seven-year contract renewal in Saudi Arabia

The Boston Consulting Group, which the firm said had “deep expertise in integration programs” in the sector, will support the project.

Dr Mohamed Farouk, chief executive of ADES, said the acquisitions had allowed the firm to “add strong client relationships, assets and teams” to its portfolio, adding that he believed the project could be rolled out with “minimal impact on daily operations”.

In lunchtime trading Thursday, ADES shares were at 13.2p.

Quick facts: ADES International Holding PLC

Price: $13.10

Market: LSE
Market Cap: $573.7 m
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