Cyclotech is acquired by MI Swaco

Cyclotech are pleased to announce that we have been acquired by M-I SWACO.   The deal closed on Friday 6^th November 2009.   M-I SWACO have purchased 100% of the shareholding in SilkWater Holdings Limited the holding company for Cyclotech Ltd, Cyclotech A/S and Cyclotech Asia Pte. Ltd and thus all existing contracts with any of these subsidiary companies can remain unaltered.

M-I SWACO is based in Houston, TX and is jointly owned 60% by Smith International, Inc. and 40% by Schlumberger Limited. They are a leading provider of a wide range of products and engineering services designed to deliver Drilling Solutions, Environmental Solutions, Wellbore Productivity and Production Technologies. The company is strategically located, with facilities in more than 70 countries.

The acquisition is highly complementary to the M-I SWACO EPCON* business and will expand its offering of specialized, compact separation technology and processes as well as allow us to deliver a more complete and holistic solution to meet our customers’ needs in the waste streams associated with oil and gas production worldwide.

We are convinced this acquisition is a positive move for our customers, our employees, and our companies.   With a common focus on creating value for our customer, with complementary technological strengths, and with a shared sense of values, we are committed to providing our customer base with even higher levels of service in the months and years ahead.

We welcome the opportunity to answer your questions.   If you would like more information on our expanded offering of separation technology solutions, please do not hesitate to contact us.