SBO snatches Dubai firm

Oil industry equipment maker Schoeller-Bleckmann Oilfield Equipment AG (SBO) has taken over an Arabian rival, it has been announced.The global market leader, which is headquartered in Ternitz, said today (Mon) it had acquired a 100 per cent interest in Dubai-based Drilling Systems International Ltd. (DSI). A takeover price was not disclosed by the Lower Austrian firm which is quoted on the Vienna Stock Exchange (WBAG).SBO has around 1,100 employees across the world. Around 320 of them work at its headquarters. The company is one of the biggest oilfield technology providers in the world. Its turnover in the second quarter of 2010 rose by 30.4 per cent year on year to 74 million Euros.