Oceaneering Acquires SMX Intl. Canada Inc.

Writer: Carl Norton on Sep 1 2010.

Oceaneering International, Inc. has officially declared that it has purchased all the in commission possessions of SMX International Canada Inc.

The agreement was reached via its inclusive division Grayloc Products Canada, Ltd.

SMX is a worldwide producer of metal-to-metal seal clamp connectors, check valves and universal ball joints.

It is located in Toronto and has its chief customers in Canada.

SMX had a capital of around $15 million for the monetary year ending March 31, 2010.

T. Jay Collins, the President and CEO, said on the occasion: “This acquisition complements our Grayloc Products business, which we acquired in 2005 and has proven to be a very successful investment. It’s a great niche market for high pressure, high temperature, metal-to-metal seal connectors. This acquisition gets us closer to the oil sands market where the clamps are used extensively in the production processing.”

ABOUT OCEANEERING

Oceaneering is among the world’s leading oilfield suppliers mainly to the offshore gas and oil markets and focuses on deepwater applications. It also deals with the aerospace and defense markets with its applied technology skillfulness.

Visit www.oceaneering.com for more information.

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