10 May 2002
10 May 2002
ZCL Composites has completed the acquisition of Mocoat Services Inc..
Mocoat Services Inc. operates from facilities in Nisku and Calgary, Alberta and has been providing preventative corrosion services to the oil and gas industry in Western Canada since 1968. The company manufactures a proprietary patent-pending tank lining or internal secondary containment system (""SCS"") which is installed in new and existing storage facilities either in the field or in their shop. The SCS provides secondary containment that can be continuously monitored, as well as flexible and durable corrosion protection. The President of Mocoat, Mr. Brian Heath, will continue to manage the subsidiary and its 25 employees.
""This acquisition significantly enhances our opportunities to establish ZCL's tank lining technologies as the preferred method of upgrading single wall tanks across North America, both aboveground and underground. Mocoat's proprietary technology complements and adds considerable strength to our core business in this key market which has tremendous growth potential,"" said Ven Cote, President & CEO of ZCL. ""We now also have a stronger presence in the Western Canadian upstream marketplace. Mocoat services a number of major oil and gas companies that are well known to and current customers of ZCL. We are in a position to offer these companies a much broader product line and service capability.""