Companies in the news

Fabrication and construction firm Dynamic Industries, Inc., has acquired the assets of Mid-Fab (formerly UNIFAB) of New Iberia, La. Construction and fabrication facilities for Dii will increase from 107 acres to over 274 acres. Included in the purchase is a 35,000-sq-ft dedicated roll mill shop, while total facility space increases from 187,500 to nearly 513,000 sq ft. Covered shop space will now exceed 218,000 sq ft. European private equity and venture capital company 3i will sell its stake in Aberdeen-based Specialised Petroleum Services Group Ltd (SPS), a provider of wellbore clean-up products and services for the oil and gas industry, to M-I Swaco. The purchase price for the whole company is about $165 million (£89 million). 3i and managed funds held a 51% stake in SPS. M-I Swaco is jointly owned by Smith International Inc. and Schlumberger Ltd.