January Company News, Mergers and Acquisitions

MichCon Pipeline Co., a subsidiary of DTE Energy, has completed its sale of natural gas gathering and treating assets to DCP Midstream Partners LP. The assets are in northern Michigan and provide gas gathering and treating services for gas produced in the Antrim shale formation. The price was $45.1 million.

Red Wing Shoe Company opened its third global operations hub in Houston to serve as its North American operations headquarters supporting its global contracts for oil and gas personal protection equipment. The expansion allows the company to supply a full line of Red Wing industrial workwear directly to the oil and gas industry and select distributors.

URS Corporation has acquired ForeRunner Corporation in Lakewood, CO. ForeRunner is an engineering and construction management company specializing in projects for the oil and gas industry.

Louisiana Gov. Bobby Jindal recently joined Morgan City Mayor Tim Matte and InterMoor Inc. President Tom Fulton to announce InterMoor’s expansion plans in Morgan City, LA. The $17.2 million capital investment will allow the company to retain 250 jobs and create 320 jobs in the next five to seven years at an average annual salary of $60,000, plus benefits. A subsidiary of Acteon, InterMoor designs, supplies and deploys technically advanced mooring systems and provides rig-moves and back-of-the-boat installation services worldwide.

GE Oil & Gas, Kazakhstan’s National Welfare Fund JSC NWF Samruk-Kazyna and JSC ZKMK, a precision engineering plant operator, plan to establish a new joint venture to produce, assemble and supply gas turbines for gas transmission and transportation projects in Kazakhstan, Azerbaijan and Central Asia. Mid-2010 has been set as the target date for the formation of the JV that could include localized production of GE’s 11-plus MW range of GE10 gas turbines to localize the production and servicing of gas turbines in Kazakhstan.

L.B. Foster Company of Pittsburgh, PA, has announced a joint venture between three partners, Kentucky-based Lally Pipe & Tube, L.B. Foster and industry veteran, Jim Legg. Together the three partners have formed LB Pipe & Coupling Products, LLC, to manufacture couplings and accessories for the water well, oil country tubular goods and American Petroleum Institute markets. LB Pipe & Coupling Products will occupy a new manufacturing facility in Magnolia, TX.

UP Holdings, Inc, parent company of Universal Ensco, Inc., Pegasus International, Inc., UP International Inc., and Peak Power Engineering, Inc., has rebranded its name to UniversalPegasus International to emphasize the global nature of its businesses. UniversalPegasus International delivers services through four operating companies which will keep their current trade names.

RedHawk Energy Corporation has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the Extreme Group) for $66 million. Headquartered in Houston, Xxtreme Group is a provider of oilfield services including ultrasonic inspection, storage and API threading and processing of oil country tubular goods. RedHawk announced the addition of Thomas J. Concannon as its senior vice president.