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Northbridge Industrial Services Plc

History of Tasman Oil Tools

Early Days 1980 → 1996
Tasman Oil Tools Ltd was originally registered in New Zealand in 1980 following the sale of Drexel Offshore Services based in Singapore which was active in the 1970’s and its first major contract was the geothermal project at Ngawha. A branch office was then opened in Perth later becoming Tasman Oil Tools Pty Ltd.

Tasman New Zealand and Tasman Australia 1996 → 2010
In 1996 the ownership structure changed following new ownership with the New Zealand Company and the Australian company trading as standalone separate legal entities. There was then no financial connection between the two companies, although there were occasional cross hires. The late 1990’s was a difficult time for oil service companies, with the oil price dipping to $10 per barrel but importantly both businesses survived and used this period to refocus their business models.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base and has grown organically and by the acquisition of companies in the UK and abroad and through investing in those companies to make them more successful. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base. This includes utility companies, the oil and gas sector, shipping, construction and the public sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.