COMPETITION WATCH: Producers completes Neil Withers Trucking acquisition

CALGARY, Alta. — Producers Oilfield Services has announced it has completed its acquisition of Neil Withers Trucking.

The company was bought for about $13.6 million in cash and the issuance of 1,000,000 common shares of Producers Oilfield Services – a division of Mullen Transportation.

Neil Withers Trucking is a Grande Prairie, Alta.-based carrier servicing the oilfields.

“This acquisition strengthens our ability to provide ‘One Stop Shopping’ to our oil and gas customers. NWT brings its own customer base in this sector which will allow us to expand this service throughout our trucking network,” said Ric Peterson, president and chief executive officer.

Neil Withers will serve as president of the company.

“Mr. Withers founded NWT and his experience will be invaluable as we continue to grow this sector,” added Peterson.

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