Canadian Manufacturing

Aveda buys Precision Drilling’s U.S. rig moving assets for US$24M

Company acquiring rig moving equipment, trucks, trailers, loaders and cranes from Calgary-based Precision



CALGARY—Aveda Transportation and Energy Services Inc. says its buying the United States-based rig moving assets of Precision Drilling Corp. for US$24 million.

Aveda says the deal, expected to close July 1, adds to its U.S. assets.

The company is acquiring rig moving equipment, trucks, trailers, loaders and cranes from Calgary-based Precision.

Based in Leduc, Alta., Aveda provides specialized transportation services and equipment for the oil industry in Western Canada and in the U.S. in Texas, Pennsylvania and North Dakota.

Precision says the sale will allow it to pursue growth in its core businesses in Canada, the U.S. and international markets.

It supplies drilling rigs, rental equipment and water treatment units, among other services.

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