Clough gets $55 million worth of gaseous growth
Australian engineering firm Clough has bought US LNG engineering group CH-IV International.
Clough bought the company for $55 million, after saying it wanted to bolster its expertise last year.
CH-IV is known chiefly for its expertise in LNG import and export terminals.
It may be a good fit for Clough, which has been involved in every major LNG project across Australia and PNG in the last few years.
The local company says its purchase will allow it to expand its LNG expertise and capability, while also taking a new foothold in the US market.
“The acquisition aligns with Clough's strategy to build a globally competitive business and expand our global footprint and services to our oil & gas clients,” Clough’s Kevin Gallagher said.
CH-IV president Jeff Beale said the “union combines complementary LNG skills and resources that will significantly enhance our service offering for LNG clients. CH-IV now has the required support to offer our niche LNG engineering and consulting services to previously untapped markets, both locally and globally”.