Rutter’s Unicontrol and DORIS Form Brazilian Joint Venture
ST. JOHN’S, NL, Aug. 16 /CNW/ – Rutter Inc. is pleased to announce that its 74% Brazilian subsidiary Unicontrol International Ltda. (Unicontrol) has formed a 50/50 joint venture with DORIS Engineering S.A. (DORIS), a Paris, France headquartered engineering enterprise in which Rutter holds a 28% interest. This new joint venture company, DORIS Engenharia, SA. will pursue technical studies, R&D projects and various engineering, project management and turnkey development contracts in the Brazilian oil and gas industry as well as other sectors within that country.
“This joint venture has been contemplated for some time,” said Fraser H. Edison, Executive Vice-President of Rutter Inc. and Director of DORIS. “It marries DORIS’ cutting edge engineering solutions with Unicontrol’s excellent client relationships and reputation as the leading independent controls and automation solutions provider in Brazil. The net result for Rutter will be substantial growth opportunities for two very significant assets.”
Commenting on the new joint venture, Mr. Loic des Deserts, Chairman and Chief Executive Officer of DORIS Engineering noted, “We already have an initial contract as a result of Unicontrol and DORIS working together. Unicontrol knows Brazil and for us, finding the right partner in every location on the globe is critical to our success. In that regard we are looking at making a similar arrangement with Rutter in other markets, such as Western Canada when the right opportunity arises.”
Mr. Elcio Pasqualucci, President of Unicontrol International Ltda. stated, “DORIS has a unique combination of skill sets and experience not currently available in Brazil. We know the rapidly expanding Brazilian market and they know leading edge engineering solutions. Cementing a long-term relationship through DORIS Engenharia Ltda. enables us both to provide significant additional value to our customers. The immediate impact of that is pre-qualification to compete and or negotiate for multi-million dollar engineering and project management contracts that were previously inaccessible. As Brazil continues to be the fastest growing oil and gas market in the world, there is significant demand for these services,” Pasqualucci added.
About Rutter Inc. – Represented worldwide, Rutter Inc. is a global enterprise focused on providing innovative, 21st century technologies and engineering solutions that improve the efficiency and safety of marine, transportation and operations in other industrial sectors. Key activities of the enterprise include product development and marketing, technology manufacturing and automation and control systems engineering. For more information see www.rutter.ca.
About Unicontrol International – With 20 years of automation and control systems engineering experience in the Latin American market, Unicontrol International Ltda. is one of the largest and most experienced domestic automation firms in Brazil. As a vendor-independent service provider, Unicontrol specializes in engineering and installing best-in-class integrated automation solutions and has a track record of delivering superior customer value. For additional information see www.unicontrol.ind.br
About DORIS Engineering – DORIS Engineering is a proven innovator, responsible for many firsts in the development of offshore oil and gas production structures in the North Sea sector, Canada and around the world and was the winner of OTC’s 2006 Distinguished Achievement Award for its sustained and pioneering innovations in the design and construction of offshore facilities. Its scope of services includes engineering, procurement and construction. DORIS has been involved in a number of international mega-projects, including the Gravity Base Structure (GBS) for Hibernia Management and Development Corporation’s Hibernia project offshore Newfoundland, the extension of Monaco’s Condamine Harbour and the giant Total deepwater field development of Girassol offshore West Africa. For additional information see www.doris-engineering.com
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions. Due to the many risks and uncertainties, Rutter Inc. cannot assure that forward-looking statements that may be contained in this press release will be realized.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SEDAR: 00022015E
For further information: please contact: Paul Snow, Director of Communications & Investor Relations, (709) 368-3174; Clarence J. Dwyer, Vice-President Corporate Affairs, (709) 368-3174