OMRON Completes Sale of OMRON Oilfield and Marine Inc.
June 3, 2016
June 3, 2016, Kyoto, Japan –– OMRON Corporation (President & CEO: Yoshihito Yamada [TSE: 6645]), today announced the completion of the sale of OMRON Oilfield and Marine, Inc. ("OOM") to Schlumberger, the global leader in oilfield services, as part of OMRON's business transformation plan. OOM has a high market share in inverter control systems for drilling equipment used by customers in the oil-drilling sector of North America's oil and gas industry and is a wholly-owned subsidiary of OMRON Electronics LLC ("OEI"). OEI conducts sales and marketing of industrial automation components and systems in North America. The transaction closed on May 31, 2016.
The transaction advances OMRON's business transformation initiatives through enhanced portfolio management. OMRON has reviewed its portfolio of industrial automation businesses to realign them to focus operations on specific target industry areas to deliver greater value to customers. The outcome of that review process resulted in the decision to divest OOM to Schlumberger—a transaction OMRON believes will deliver great synergies for both firms.
2. About OMRON Oilfield & Marine, Inc.
|Business Offering:||Design and manufacture of oil-drilling and control systems, power houses, drillers’ cabins for oil-drilling equipment, and associated services|
|Location:||Houston, Texas, U.S.A.|
3. Impact on Earnings
The impact of this transaction on OMRON's consolidated and non-consolidated earnings for the fiscal year ending in March 2017 is expected to be negligible.
About OMRON Corporation:
OMRON Corporation is a global leader in the field of automation based on its core sensing and control technology. OMRON's businesses cover a broad spectrum, ranging from industrial automation and electronic components to automotive electronic components, social infrastructure systems, healthcare, and environmental solutions. Established in 1933, OMRON has approximately 38,000 employees worldwide, working to provide products and services in more than 110 countries and regions.
In the field of industrial automation, OMRON supports manufacturing innovation by providing advanced automation technology and products, as well as through extensive customer support, in order to help create a better society. For more information, visit OMRON's website: www.omron.com.
Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 113,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.
Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.com.
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