BAUER AG Schrobenhausen - BAUER Deep Drilling GmbH, the subsidiary of the BAUER Group that is specialized in the design and production of deep drilling rig solutions, has signed an agreement in December 2014 with Saxon Energy Services Inc. for the manufacture and sale of two ATD 750 deep drilling rigs.
Saxon Energy Services Inc. is an international drilling company that is a fully owned subsidiary of Schlumberger, the world's largest oilfield service company. The rigs are the result of a joint development process for a new series of deep drilling rigs, which began in May 2014 on the basis of an engineering contract that was concluded at the time.
The rigs will be manufactured in the BAUER Maschinen GmbH plants in Germany and partially assembled in the US plant in Conroe, near Houston. The contract was won largely due to the ultra-modern control technology, the high degree of automation and the latest safety standards, all of which went into the development of the equipment.
"The sale and the successful partnership with Saxon is an important step in this new market. It shows that our innovative technology is finding approval with customers from the drilling industry," said Prof. Thomas Bauer, Chairman of the Management Board of BAUER AG.
Additionally, an already completed TBA 300/440 M1 deep drilling rig and a TBA 440 M2 rig were sold to a customer in South America. The order backlog in Bauer Deep Drilling received in December reached 50 Million Euro.
About Bauer
Bauer is a provider of services, machinery and products for ground and groundwater. The Group markets its products and services all over the world. Its global presence allows it to remain largely unaffected by fluctuating business cycles.
The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work for complex excavation pits and foundations on major infrastructure and building projects all over the world, installing cut-off 2 walls and carrying out ground improvement works as well as providing related project development services. Bauer's Equipment segment, a world market leader, offers a comprehensive range of construction machinery, equipment and tools for the specialist foundation engineering sector as well as for other underground drilling operations, such as for mines, water wells, geothermal energy sources, and oil and gas extraction. The Resources segment pools the Group's activities in the fields of water, energy, mineral resources and environmental technology.
Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total revenues outside of Germany. Employing some 10,300 people, the Group's total revenues in 2013 were approximately EUR 1.5 billion (previous year: EUR 1.44 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
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