Jun 01st 2012 - Edison Investment Research today published a report on Augean (AUG.L, LSE:AUG, LON:AUG) entitled "Oil Services Development". In summary, the report says:
Augean has announced it is creating a JV with its oil services partner Scomi Oiltools (Europe) to broaden and deepen the offering in the North Sea oil and gas market. Augean will take a controlling stake in the newly formed company Augean North Sea Services (ANSS) ,which will provide customers with a complete end-to-end offering for managing, treating and disposing of offshore waste while also positioning Augean to provide a long-term solution to the offshore decommissioning market. With the deal set to be accretive from 2013, we view this as yet another sign of management maturity in identifying, assessing and prosecuting new opportunities.
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