DMGT offers to acquire Petrotranz Inc.
CALGARY, AB, Canada (November 15th, 2013) - DMGT offers to complete full purchase of outstanding Petrotranz shares.
Earlier this year Petrotranz accepted an initial capital growth investment offer from the Daily Mail General Trust (DMGT), a family-run public company listed on the London Stock Exchange. The intent was to provide proper working capital for the expansion of the Pe-trotranz business in the WCSB. This has given Petrotranz the ability to fuel product growth while following through with completely rebuilding the Petrotranz Transportation and Logistics Platform throughout 2014.
The expansion will occur through the reinvestment of capital into both flagship products and solutions (COTS, LTS), to fund the completion of PDX and to push forward the development of PQM. It would also further fund a new innovative solution currently being designed for all stakeholders in the Western Canadian Sedimentary Basin. Petrotranz will also officially become sister companies with other DMGT owned and controlled companies like Digital H2O, Genscape and Locus Energy.
Petrotranz Inc. is a technology company that builds, deploys and manages secure, web-based industry solutions that automate and improve manual or inefficient processes in the Energy Industry. The commercial applications developed by Petrotranz are the Crude Oil Transportation System (COTS) and the Liquids Transportation System (LTS) which are utilized to manage transportation and logistical information related to the 3 month crude oil and liquids lifecycle. Petrotranz has a planned launch of its third flagship system, the Petrotranz Data Exchange (PDX) in January 2014. PDX is a secure, web-based data exchange that makes volumetric and financial information available in an electronic format between relevant stakeholders (Terminal and Pipeline Operators, Shipper Marketers and Producer Operators).The Petrotranz Technology Platform is used by over 1100 companies managing over 97% of crude oil and liquids volumes in the Western Canadian Sedimentary Basin.
Petrotranz also provides volumetric and financial management industry services and actively serves as the COLC Administrative Manager and the ITC Invoicing Contractor.
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