Maritime Industrial Services

Maritime Industrial Services Co. Ltd. Inc.
Company type	Public limited company
Traded as	OSE: MIS
Founded	1979
Headquarters	Dubai, United Arab Emirates
Area served	Worldwide
Key people	Mazen Shaat (CEO); Kamal Zaki ALLaithi(CFO);
Revenue	FY 2010 US $385.4 million
Net income	FY 2010 US $35.7 million
Number of employees	+4,500
Website	Official website

Maritime Industrial Services Co. Ltd. Inc. is a Saudi Arabian engineering and contracting group providing a broad range of products and services to the energy sector. It is a subsidiary of Lamprell PLC.

MIS' business scope covers EPC, Fabrication, New Build, Rig Refurb, Tech Services (Operations & Maintenance) and Safety Services.

MIS' operational scope of work covers engineering, procurement, fabrication, construction, safety, operating and maintenance services to the oil, gas, petrochemical, energy, power generation and marine industries.

History

The company was founded in 1979. In 1985, the company moved its operations from Dubai to a yard in Sharjah, where it began manufacturing pressure vessels. That year also saw the acquisition of the Sunbelt Safety division.

By 1990, MIS had expanded into Engineering, Procurement, and Construction (EPC) services. In 2001, the company entered into a joint venture to establish MIS Arabia. The company continued to grow, securing its first New Build contract in 2006.

In 2007, MIS was listed on the Oslo Børs stock exchange, and in 2008, it acquired Rig Metals, which focused on onshore rig components. This expansion led to the delivery of its first rig in the Middle East in 2009 and the launch of EPI.

Further developments in 2010 included the start of Production Services, the acquisition of Litwin PEL, and a Memorandum of Understanding with Kavin Engineering. In 2012, MIS was acquired by Lamprell PLC, marking a new phase in its history.

Business Activities

MIS' business is based around six main value streams (business activities) but since 2008 has gained 4 more as acquisitions and start-ups.^[3]

Main Value Streams

Fabrication
EPC
New Build
Refurb
Tech Services
Sunbelt Safety

Acquisitions and Start-ups

Rig Metals: Rig Metals LLC was acquired by MIS in 2008. It has ten years' experience in the region providing oilfield related engineering and steel fabrication contracting services to the offshore and onshore rig industry.^[4]
EPI: was launched in 2010 and focuses on EPC and EPCM projects in markets such as Abu Dhabi, Saudi Arabia, Qatar, and Oman
Production Services: was established in 2010. It will be focusing on the provision of oil & gas production equipment and services for both onshore and offshore developments
Litwin PEL: was acquired by MIS in September 2010. It is an Abu Dhabi-based EPC and Engineering Services company catering to the Middle East and Africa Oil and Gas sector.^[5]

Operations

The company's operations span several markets: Sharjah UAE where the company has 200,000 m² quayside facilities in Port Khalid; Kuwait, Qatar and Saudi Arabia under the name MIS Arabia (a joint venture). MIS' geographical footprint also covers Egypt, Kazakhstan and Iraq.

References

^ MIS Annual Report 2010 Archived 2011-07-06 at the Wayback Machine
^ MIS Annual Report 2010 Archived 2011-07-06 at the Wayback Machine
^ MIS Website Business Activities Overview Archived 2010-08-31 at the Wayback Machine
^ Rig Metals Corporate Profile
^ Litwin PEL News Archived 2011-07-06 at the Wayback Machine

External links

[1] MIS Annual Report 2010 Archived 2011-07-06 at the Wayback Machine

[2] MIS Annual Report 2010 Archived 2011-07-06 at the Wayback Machine

[3] MIS Website Business Activities Overview Archived 2010-08-31 at the Wayback Machine

[4] Rig Metals Corporate Profile

[5] Litwin PEL News Archived 2011-07-06 at the Wayback Machine

[1]

[2]

[3]

[4]

[5]