Siem WIS changes name to Wellis MPcD
Wellis AS has purchased Siem Offshore's shares in Siem WIS and now holds 100% of Siem WIS.
Siem WIS AS will change name to Wellis MPcD AS in a short period of time. This is due to the fact that Siem Offshore is no longer a majority owner in Siem WIS AS. Wellis AS, which owns 40% of Siem WIS AS, has purchased Siem Offshore's shares in Siem WIS AS, thus holding 100% of Wellis MPcD AS. Wellis AS becomes the holding company of Wellis MPcD AS. Important investors behind Wellis AS are Frydenbø Group, Sparebanken Vest, Rhea Capital II AS, H-Invest AS and JO Capital.
In addition to the acquisition of the shares of Siem Offshore, Wellis AS will capitalize Wellis MPcD to revitalize the company. The company will continue its efforts with the unique PCD solution and will strengthen the further development of the product.
Wellis MPcD provides products, services and high-end technology for Managed Pressure Drilling (MPD) and Underbalanced Drilling Operations (UBO). The Wellis MPcD Pressure Control Device (PCD), with its unique and patented sealing solution, represents the future of control heads for MPD / UBO operations where seal conditions and well integrity are monitored in real time.
A new website for Wellis MPcD AS will replace Siem WIS AS's website in the near future.