“Ashtead has performed well and grown rapidly since its merger with Forum’s subsea rentals product offering early last year. We wish
Ashtead Technology is a global leader in the provision of technically advanced subsea solutions, sensors, tools and systems. In addition to providing a comprehensive range of subsea survey, inspection, mechanical and ROV tooling equipment,
Forum became an investor in 2018 when it contributed its Forum Subsea Rentals products in exchange for a 40% equity interest in
Forward Looking Statements and Other Legal Disclosure
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations regarding the timing of closing of the transaction, the amount of proceeds from the transaction, and future cash flow generation and net debt reduction.
These statements are based on certain assumptions made by the company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among other things, these include the volatility of oil and natural gas prices, oilfield development activity levels, competition in the oil and gas industry, governmental regulation and taxation of the oil and natural gas industry, the availability and terms of capital, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the company's business, and other important factors that could cause actual results to differ materially from those projected as described in the company's filings with the
Any forward-looking statement speaks only as of the date on which such statement is made and the company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Mark Conlon – Director, Investor Relations and Planning