Tesco Corp. enters Egypt tubular services market

Houston-based Tesco Corp. (Nasdaq: TESO) is set to acquire Premiere Casing Services – Egypt SAE, a tubular services company.

The acquisition is Tesco’s entry into the Egyptian tubular services market and positions the company to expand into the onshore and offshore markets throughout North Africa and the Middle East region, according to a company statement.

Tesco will retain Premiere’s senior management team and its skilled workforce of 200 people, which the company will integrate into its Dubai-based Middle East business unit.

Financial information on the transaction was not disclosed.

Tesco designs and manufactures technology-based solutions for the upstream energy industry.