125 years MHWirth
In 2020, we are celebrating MHWirth’s 125th anniversary. Based on a long legacy of technological innovations and with dedicated employees we are positioning our company for growth in current and new markets.
Since the downturn in 2014, and through the years after, we focused on reducing costs and developing more efficient technological solutions as well as new concepts for Drilling Lifecycle Services. During the last two years, MHWirth successfully installed digital solutions on several drilling rigs, optimizing the operations of the drilling equipment. Additionally, new business models for services have been implemented with positive effects both for the clients and MHWirth.
In 2019, a strategic focus to expand the company through a combination of organic growth and Mergers & Acquisitions was decided. This in turn will expand our portfolio of services and position the company to increase market share in a continuingly competitive market, in preparation for an eventual market recovery.
Facing the current market challenges as well as the COVID-19 pandemic, the key focus for 2020 is to best secure our company and investments going forward. We will continue our work to further increase competitiveness, by providing a flexible and lean cost base while at the same time continuing the development of new technologies and solutions for our clients.
Today, MHWirth provides solutions into both the offshore and onshore drilling markets globally. Our operations are divided in four main areas:
- Drilling Equipment
- Drilling Lifecycle Services
- Digital Technologies
We also engage in other segments through our wholly owned subsidiaries:
- Frontica Engineering (Design & Engineering of offshore installations)
- Step Oiltools (Solids control & Drilling waste management)
Click here to read more about our exciting history.