SINGAPORE -- AusGroup Ltd. plans to invest about $20 million on expanding production at its Singapore-based subsidiary Cactus Engineering, which carries out designing and engineering of drilling spools, wellhead equipment, and other subsea systems.
The investment will be made over the next 12 months to increase factory space and add workshops as well as machinery, says Stuart Kenny, managing director at the Australian-owned and Singapore listed AusGroup.
Cactus has already signed a new lease for a site next to its facilities in the Tuas industrial sector of Singapore, Kenny says.
Cactus services major oil equipment manufacturers in Asia, including Vetco Gray, FMC Technologies, Cooper Cameron, National Oilwell Varco, and Baker Oil Tools, the company says.
AusGroup, which provides engineering and fabrication services, began 2007 with $187 million worth of orders.