Micromeritics Instrument Corporation today announced it has sold its PoroTechnology Reservoir Evaluation Laboratory subsidiary to CoreSpec Alliance LLC. Terms of the sale were not disclosed.
“The MICP testing of reservoir rocks was an attractive business for Micromeritics and we learned some very valuable information during the process,” said Micromeritics Preston Hendrix, President of Micromeritics. “It did not however, match with Micromeritics strategic direction for the future so we have decided to sell the business to CoreSpec Alliance, which has many years of experience in the oil/gas exploration business. CoreSpec Alliance, managed by Michael Santiago, has some aggressive growth plans and we are confident that they will be able to grow the business and better serve the customers in that industry.”