Hydrasun has completed the acquisition of a Brazilian company creating the potential for additional multi-million pound sales.
The seven-figure deal was struck for Macaé-based Remaq Ltda, a key provider of flexible hose assemblies in Brazil, which recently signed a new three-year contract with Brazilian national oil company Petrobras. The company will now trade as Hydrasun Remaq Ltda.
Hydrasun Chief Operating Officer Bob McAlpine said: “ Our latest acquisition will enable Hydrasun to grow its international business in Brazil’s fast-developing offshore market by providing Hydrasun access to Petrobras and also providing existing global customers with an additional service capability in Brazil.
“ We will be able to export additional Hydrasun products and services to the Brazilian market such as integrity management, subsea control umbilicals and specialist hose applications along with other added value services including instrumentation, process control and hydraulics. We have already placed substantial orders with our main suppliers to ensure we offer our customers in Brazil the same high standards we deliver for those in Aberdeen .”
Hydrasun Remaq has a team of 22 who will continue to be based in Macaé. Staff numbers are forecast to increase over the next year and investment will be made in the premises, machinery and equipment to develop a world-class site that supports ongoing business growth.
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Subsea World News Staff , November 16, 2011; Image: Hydrasun