The leasing business of Mitcham Industries is undertaken by its subsidiaries, namely MII, Mitcham Canada ULC (MCL), Seismic Asia Pacific Pty Ltd. (SAP), Mitcham Seismic Eurasia LLC (MSE) and Absolute Equipment Solutions, Inc. (AES). The manufacturing business of the company is undertaken by the Seamap (UK) Ltd (Seamap UK) and Seamap Pte. Ltd) subsidiaries. In August 2013, Mitcham Industries entered a three-year, $50.0 million syndicated revolving credit facility with
HSBC Bank USA, N.A., replacing
First Victoria National Bank. In October 2011, the company established a new warehouse, logistics and repair facility in
Budapest,
Hungary to facilitate the Eastern European market. In June 2011, the company joined the
Russell 3000 Index after for U.S.
small-cap stocks. In March 2011, the company purchased 3000 channels of
Sercel's
UNITE cable-free land acquisition system, following the purchase of 7,500 channels in September 2010. In December 2007, the company completed the acquisition of all intellectual property rights related to the source controller software utilized in its GunLink product line by its Seamap unit from
Tanglesolve Instrumentation Ltd. for about $1.5 million. In July 2005, Mitcham Industries completed the acquisition of Seamap International Holdings Pte Ltd's three subsidiaries: Seamap Inc., Seamap (UK) Ltd and Seamap Pte Ltd for about $6.5 million and an earn-out component up to an additional $2 million. In November the same year, Seamap completed the trial of its new GunLink 3000 Hydrophone Acquisition and Gun Control System, providing enhanced source control and reducing diameter umbilicals. == Products & Services==