UAE-based company acquires engineering firm in bid to increase presence in Abu Dhabi
UAE-based Maritime Industrial Services (MIS) has acquired the Abu Dhabi-based engineering services company Litwin PEL for an undisclosed fee.
In statement MIS said that the acquisition is a strategic move by the company as it looks to grow its engineering, procurement and construction (EPC) business that began with the establishment of Energy Projects International (EPI) in 2009.
"Epi strategic objectives include the establishment of a strong presence in Abu Dhabi and other key markets, to enable MIS to participate in the regions major oil and gas development programme scheduled for implementation in the coming few years," the statement said. "Litwin PEL, with a current staff of just under 200 people, adds to Mis existing capabilities in engineering."
The statement also said that the company will maintain the name Litwin PEL for a three-year period and continue to be led by its chief executive officer, Pierre Leretz.