Petrominerals Plans to Acquire N.M. Firm to Help in Diversifying
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TUSTIN — Petrominerals Corp. said Thursday that it has signed a letter of intent to acquire a New Mexico company that tests tubes and pipes for the petroleum industry.
The acquisition price for privately held Hydro-Test International was not disclosed.
Hydro-Test’s resources will allow Petrominerals, an oil and gas driller and servicer based in Tustin, to expand into some Gulf Coast markets and help the company diversify its operations, Petrominerals officials said.
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