CALGARY, Alta. — Producers Oilfield Services has announced it’s expanding its trucking operations through the acquisition of Neil Withers Trucking.
Neil Withers is a privately-owned trucking company based in Grande Prairie, Alta. The deal is expected to close May 31. Producers Oilfield Services says Neil Withers Trucking is recognized as a leader in oilfield trucking and pipe storage management.
“This acquisition follows our strategy to offer ‘One Stop Shopping’ to our oil and gas customers and NWT will provide us with a customer base in this sector and this, in turn, will allow us to expand this service throughout our trucking network,” said Ric Peterson, president and CEO of Producers Oilfield Services.
Neil Withers Trucking generated revenues of $11 million in 2004. It has also invested in $2 million in new assets this year alone, all of which are in service today, Producers Oilfield Services reports. The company adds its latest acquisition should generate more than $15 million in annual revenue
“We are pleased that Mr. Withers will continue to operate this business as President of NWT and provide leadership to expand the pipe storage and hauling business throughout our network,” Peterson added.
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