Mullen buys oil sands industry service provider

ALDERSYDE, Alta. (Oct. 5, 2004) — Mullen Transportation announced it has bought Northern Underwater Systems Ltd., a provider of inland water related services to oil and gas, oil sands and industrial customers.

Financial terms of the all cash transaction were not disclosed.

NUS provides specialized marine services primarily involve dewatering services through the rental and sale of pumps and support equipment. In addition, NUS is also involved in providing diving, barging and dredging services. Its operations are focused primarily in western Canada through its offices in Edmonton, Calgary and Ft. McMurray, Alta.; Yellowknife, NWT; and Trail, B.C.

Mullen — one of Canada’s largest for-hire carriers and energy services firms — says the acquisition represents the company’s strategic goal of strengthening its oilfield services segment. “We look for companies that are industry leaders in their niche markets, as well as profitable and well run. NUS meets both of these tests and they are leveraged to Canada’s oil sands industry, an important aspect of Mullen’s strategic plan,” Murray Mullen, company chairman and co-CEO, said in a statement.