Champion Technologies, Condea Servo form chemicals joint venture

Champion Technologies Inc., Houston, and Condea Servo BV, Delden, the Netherlands, have signed a letter of intent to form an oil field production chemical joint venture.

Oct. 8, 2001

By the OGJ Online Staff

HOUSTON, Oct. 8 -- Champion Technologies Inc., Houston, and Condea Servo BV, Delden, the Netherlands, have signed a letter of intent to form an oil field production chemical joint venture.

The venture, dubbed Champion Servo, will include Champion's Eastern Hemisphere operations and Servo's international oil field chemical operations. It will be headquartered in Aberdeen.

Existing manufacturing, research, and technology assets in the US and the Netherlands will provide support for the venture, but are not included in Champion Servo.

Non-oil field production chemical industry businesses will be unaffected.

Champion Servo will be the third largest oil field production chemical company in the world, said Champion Technologies. The JV will allow expanded customer support and product range.

The parent companies will phase in the joint venture, remaining in touch with existing customers to ensure continuity of existing contracts, said Champion Technologies.

Condea Servo is a member of the Sasol Group.