Singapore-based oil and gas module construction company Dyna-Mac has acquired Exterran Offshore, expanding its fabrication capacity for current and future projects.
Dyna-Mac signed a Share Purchase Agreement (SPA) to acquire 100% of the total issued and paid up share capital of Exterran Offshore for the aggregate price of $8.25 million.
Exterran Offshore will be integrated into the group and renamed to reflect the Dyna-Mac branding.
Through the acquisition, Dyna-Mac will secure access to Exterran Offshore’s yard facilities of approximately 4.5 hectares along Gul Road, which will provide additional fabrication capacity for its current and future projects.
This will in turn enable the company to undertake larger projects, more complex modular construction work, as well as those involving hydrogen and ammonia piping
The additional workshops will also allow Dyna-Mac to consolidate piping fabrication, reducing the need for outsourcing and rentals, thereby lowering costs, boosting productivity and improving overall product quality.
The new site, whose lease expires in 2030, is located beside Dyna-Mac’s main module assembly facility at Gul Road, and complements its on-going strategic reorganization of facilities along that stretch.
The acquisition will also extend the company’s projected total waterfront length along Gul Road to more than 680 meters.
The additional seafront is expected to enable Dyna-Mac to improve on its current method of construction via split modules, shortening time to deliver projects, as well as providing an option to work on cable manufacturing and modules for the pharmaceutical sector.
“This milestone not only reflects our dedication to growth and expansion, but also sets us up for sustained success and strengthens our position in the industry. We look forward to driving innovation, integrating the new facility’s strengths seamlessly into our operations, and delivering even greater value to all our stakeholders,” said Lim Ah Cheng, Executive Chairman and Chief Executive Officer of Dyna-Mac.