Peterhead-based Maritime Developments is looking to build on its success in the North Sea market by moving into renewables.
The firm, which has already diversified from working for the fishing sector, will announce today it has picked up contracts worth more than £2million in the North Sea in the past three months.
This follows seven years of growth which saw the firm’s turnover more than double from £2.3million in the year to the end of March 2011 to £4.7million in the same period this year.
The firm, which is exhibiting at All-Energy, designs, manufactures and supports equipment including pipelay tensioners, reel drive systems and control systems.
It is now also developing new technology for the deployment and retrieval of offshore products such as flowlines and risers and cables.
Adam Ikwanty, project manager at the company, said: “The business has expanded considerably in the past seven years. Our experience of designing and manufacturing equipment for fishing vessels meant we had transferable skills for the energy industry.
“We understand the different requirements of equipment operating at sea and we see huge scope in the renewables sector as we provide the solution to deploy the cables that export the power from the installation, whether it be wave generation, wind or tidal power.”
Its latest contracts in the North Sea was project work including providing product handling winches, power packs and control systems.
Maritime Developments employs 18 people at its design and manufacturing base in Wilson Street, Peterhead.
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