Enerchem International, a Canadian manufacturer and distributor of hydrocarbon fluids, has announced that it has signed a letter of intent to purchase all of the issued and outstanding shares of Millard Trucking and J.D.M. Trucking for an undisclosed cash amount. The transaction is anticipated to close on or before April 30.
Millard and J.D.M. are related companies headquartered in Sundre, Alberta. The companies, which focus on the transportation of fluids and other related oilfield services in Central and Southern Alberta, maintain a fleet of tank trucks, trailers, vacuum trucks, steamers and pressure trucks and presently employ 29 employees, which includes 22 full-time drivers.
“This acquisition provides a very logical fit with our operations and an immediate opportunity to increase our internal hauling capacity which has been largely serviced through third-party haulers,” says Douglas F. Robinson, president and chief executive officer of Enerchem.
Enerchem manufactures and distributes hydrocarbon fluids designed to provide solutions to oil and gas processing and production problems, and is a provider of energy marketing services.