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Boom in Canada’s oil sand region: KAEFER is setting itself up on a rapidly growing market.
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| Strategic investment for long-term operations in the Canadian oil and gas processing industry. Bremen, Germany/ Grande Prairie, Canada, 21.04.2008 A few days ago Bremen-based KAEFER acquired 100% of the shares in Albrico Services Ltd. Like KAEFER, Albrico’s core business is in insulation. The company is headquartered in the fast-growing province of Alberta, and has been working in Canada’s oil sand region for more than 30 years. As a large part of Canada’s oil and gas processing industry is located in Alberta, the area holds considerable potential for KAEFER. One element of the strategy is to accompany KAEFER’s major international clients, who are increasingly investing in this region of Canada. KAEFER is a company with global operations and focuses on heat, cold, noise and fire protection as well as interior solutions. The acquisition of Albrico Services Ltd. is of vital importance for KAEFER’s success in the rapidly growing market of Western Canada. Albrico has some 150 staff and has successfully established a presence in several locations in Alberta and the neighbouring provinces. This gives the company the infrastructure and the expertise to advise and support major international clients. Albrico generates annual revenues of some EUR 20m. Its core activities include insulation work on industrial and construction projects as well as asbestos disposal. Canada’s oil sand region Canada has the second largest oil reserves in the world, estimated at around 179 billion barrels in the west of the country. 80% of Canada’s oil and gas processing industry is therefore based in the oil sand region of Alberta. Oil sands are a mix of sand, tar, water and clay. For a long time it was too expensive to extract these resources from oil sands, but since the oil price climbed to over US$50 per barrel, production has been a worthwhile business. KAEFER is the world’s largest independent provider of heat, cold, noise and fire insulation systems and interior solutions. The Bremen-based company has operations in some 40 countries, currently employs more than 12,000 staff and is led by three managing directors, Norbert Schmelzle (Chairman), Peter Hoedemaker (Vice Chairman) and Jörn M. Fetköter. In 2007 KAEFER generated over €1bn in global revenues. KAEFER’s core business is carried out in its Industry, Offshore, Shipbuilding, Construction and Aerospace divisions. | |||||||
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| KAEFER Isoliertechnik GmbH & Co. KG Head of Corporate Communications Stefan Beeg Bürgermeister-Smidt-Straße 70 28195 Bremen Tel. +49 421.30 55-131 Fax +49 421.30 55-166 E-Mail: stefan.beeg@kaefer.com | |||||||
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