Foraco International to control Russian driller

摘要

With the ink still drying on Foraco International's (FAR-T) acquisition of Latin American driller Adviser Drilling, the Marseille, France-based company has shifted its focus to Russia by snapping up a controlling interest in Moscow-based Eastern Drilling Co. (EDO. "It is gratifying to see Foraco close two important acquisitions in a matter of weeks that strengthen our global footprint -- first in Latin America with the Adviser acquisition, and now, in Russia with EDC. We are expecting EDC to generate about 10 million US dollars revenue in 2010 from its existing customer contracts," said Jean-Pierre Charmensat, co-CEO and CFO of Foraco, in a press release.