The petroleum specialist Saltel Industries bought out by Schlumberger

The company Saltel Industries (Bruz, seventy employees, €10M turnover in 2015 (+15%)) has been bought out by its main customer, the Franco-American petroleum services group Schlumberger (Houston, 113,000 employees, $35.7MM turnover 2015).

The Franco-American giant is interested here in the innovative technologies developed and patented by Saltel for the petroleum and gas industry, mainly its “inflatable packers” and “expandable patches”. The patches are flexible under high pressure and temperature and are used to increase hydrocarbon production by plugging perforations which are created by the water. The fruit of many years investment in R&D, Saltel has expertise in well-sealing and -securing systems. The SME offers cutting-edge products for which they have lodged about forty families of patents. Most of the SME’s business is international; it has establishments in Canada, United States, Australia, Argentina and Romania.

Impacted by the complicated context of the oil-related industry, Schlumberger’s acquisition proves that it is pursuing its strategy for external growth and technological integration. The Chairman and Managing Director, J.-L. Saltel, is delighted with this move which will globalise his company’s commercial network, as Schlumberger is represented in 85 different countries.

 

Source: Les Echos – 06/06/2016

Credit: saltel-industries.com