Siteserv unit establishes major joint venture in Kazakhstan
A unit of Irish firm Siteserv, the infrastructure and utility support firm that's owned by Denis O'Brien, has established a multi-million euro joint venture with the Kazakhstan-based Lancaster Group.
Siteserv's Deborah Services division (DSL) and Lancaster have established a new operating company called DSL Caspian. It will offer services in access, insulation, protective coatings and fire protection at both onshore and offshore locations in Kazakhstan.
The joint venture will employ 500 people, with 450 of those engaged in production and technical roles. "This joint venture hits another key milestone for us as it represents a giant step directionally for our company," said Sean Corkery, chairman and chief executive of Siteserv. "It places us firmly on the international stage."
Siteserv operates across a number of sectors. It has a number of units engaged in working with clients such as Sky, UPC, ESB and others.
The company was acquired by Denis O'Brien's Millington investment vehicle in 2012. Siteserv employs over 3,700 people in 100 locations around the world.
Privately-owned Lancaster Group was established over a decade ago. It operates in a range of sectors, from industrial infrastructure, oil and gas services, pharmaceuticals, logistics, financial services, and media to hotels.
Divisions of Lancaster already have partnerships with international firms such as French advertising giant JCDecaux, Italian oil and gas contractor Saipem, and Japanese logistics firm Senko.
The Lancaster Group was co-founded by Nurlan Kapparov, who was chairman of Kazakhstan's state-owned mining company until his death earlier this year at the age of 44. The mining company is the world's biggest producer of uranium.
He held a stake in Lancaster Group until 2012.