Aker Solutions informed that it has completed the acquisition of 70 percent of Brazilian C.S.E. Mecânica e Instrumentação Ltda.
Aker Solutions in October announced the agreement to buy the majority stake in C.S.E.
The agreement includes an option for Aker Solutions to purchase the remaining 30 percent of the company three years from now.
“The acquisition gives Aker Solutions access to Brazil’s growing market for servicing existing oil and gas fields, building on a strategy to expand the company’s services business in key international markets,” the company said.
C.S.E., which had revenue of BRL 322 million in 2015, provides maintenance, assembly, commissioning and crane operation services at offshore and onshore facilities.
The company, whose headquarter is in Pinhais in the Parana state, has 2,300 employees located at sites including five service facilities covering the country’s different oil and gas basins.