Mermaid acquires new Dampier supply base

Mermaid Marine has bought BIS Industries’ supply base in Dampier for $24 million.

The 11.7 hectare supply base is located in Dampier’s King Bay Industrial Estate, adjacent to Mermaid’s existing Dampier supply operations.

“The acquisition of the BIS Dampier supply base is strategically significant in that it provides Mermaid with access to substantial extra land and facilities directly adjacent to our current operations,” Mermaid chairman Tony Howarth said.

“This will enable Mermaid to continue to grow and expand its supply base service offering to the growing offshore oil and gas industry in the North West Shelf.”

The transaction remains subject to conditions precedent and is expected to be completed by the end of December.

At 10:38AM (WST), Mermaid stocks were down 0.3 per cent, at $2.97.