Following the sale of its oil and gas flowmetering business to Expro Group (www.exprogroup.com) for a reported $60.5 million, CiDRA (www.cidra.com) announced it plans to expand its oilsands, minerals processing, chemical management for pulp and paper, and power generation businesses lines through newly created subsidiary corporations for each of these businesses.
The transaction with Expro Group marked CiDRA’s third sale of a business unit since 2001. Going forward, CiDRA says it will continue to provide products and further develop and deliver services for minerals processing, oilsands processing, power generation and pulp & paper industries.
CiDRA has developed various service offerings related to flow management and assurance, pipe wear monitoring, and overall plant monitoring and process optimization in mining, oilsands, and pulp and paper applications. CiDRA’s newest venture is in the power generation field, where it is working to tailor a product and service offering to enable operators to reduce emissions and improve efficiencies in the operation of coal-fired power plants. Coal-fired power plants typically operate at sub-optimum efficiency due to imbalances in the air-fuel ratios in the fuel pipes leading to the burner. Recognizing what it sees as a lack of real-time monitoring of coal flow in coal fired power generation plants, CiDRA Power has entered the market to serve this need.
CiDRA to Expand Remaining Business Lines
Following the sale of its oil and gas flowmetering business to Expro Group (www.exprogroup.com) for a reported $60.5 million, CiDRA (www.cidra.com) announced it plans to expand its oilsands, minerals
Jun 25th, 2008