The business area in Apply formerly labelled Apply Systems & Products, is to be renamed Apply Rig & Modules.
This change is necessary to better reflect the fact that the company serves the Rig market with automated solutions for; drilling control systems, mud mix systems, cement handling units, cuttings re-injection as well as safety systems for emergency shutdown, process shutdown and fire & gas systems along with performing multidisciplinary repair, modifications and upgrade work on drilling rigs. Modules has been added to reflect the fact that an important part of their business is to equip cabins, modules and containers for various uses; LQ extensions, ROV operations, work shops, equipment storage, control units for various operations.
The corresponding legal entity Apply Oil and Gas AS will also change name to Apply Rig & Modules AS to have a unified labeling of their activities. Said change will take effect immediately.
[mappress]
Press Release, April 16, 2013