The company said several parties have approached it in acquiring two subsidiary business units, Fishbone Solutions and Texas Gulf Energy Industrial Services.
The developments are part of the company’s plans revealed earlier in 2013 to improve its shareholder value.
Texas Gulf’s construction services subsidiary International Plant Services will continue to develop new sources for the management, supervision and skilled craftsmen required by the new projects planned for late 2013 and 2014.
Texas Gulf Energy CEO Craig Crawford said the increase in spending by oil and gas companies continues to drive increased spending on new projects in the midstream and downstream markets.
"These projects create new and refurbished industrial facilities in the oil field, pipelines, refining and chemicals industries, that require engineering and construction management expertise combined with the ability to safely and intelligently deploy skilled craftsmen wherever they are needed," Crawford said.
"These industry requirements are in the sweet spot of services offered by the Company and its subsidiaries. We are focused on projects in the $1million to $30 million range, a project size that our larger competitors cannot service as efficiently as we can."
