Cosalt expands into Norway
30 June 2008
Cosalt has further strengthened its North Sea operations with the acquisition of a Norwegian company.
Myhre Maritime, an offshore marine safety business based in Stavanger, has joined the Cosalt stable.
Winston Phillips, Safety and Protection Division Managing Director said: "The addition of a market-leading operation in Stavanger is another major step forward in our strategy of providing a pan-North Sea network of marine safety centres focused on the offshore oil and gas market."
Established in 1935 and with a staff of 30, Myhre Maritime specialises in lifting and inspection services and the manufacture and supply of lifting, towing and mooring equipment. It is a leading supplier in the offshore oil and gas market for the Norwegian sector.
Cosalt has already made substantial progress in penetrating the UK sector.
Mr Phillips explained: "This acquisition compliments our acquisition in October last year of GTC in Aberdeen, a similar operation also focused on the offshore oil and gas market but in the UK northern sector of the North Sea.
"Following GTC's acquisition, we have made a significant investment in our Lowestoft business where the improved infrastructure and processes has allowed us greater penetration of the southern sector of the UK offshore market.
Myhre Maritime operates from modern and efficient premises located on the quayside in Stavanger with a total workshop and warehouse area of 4,600m2.
In addition there is an adjacent external storage and working area of 6,000 m2 with direct access to client vessels for loading/offloading equipment.
Myhre Maritime's motto is "Lifting your business to the next level."
Mr Phillips added: "When Myhre Maritime is fully integrated we will be able to offer our blue-chip clients a seamless, quality service across the whole of the North Sea.
"Furthermore, Myhre Maritime will add another set of skills and experience to our existing product offering which we will integrate into our UK operations."
Jack Bratten, the CEO of Myhre Maritime, and his team will be staying on board, a development welcomed by Mr Phillips.