ATR Group has formed a strategic partnership with Hendrik Veder Group for its Cosalt Offshore business.
Aberdeen-based ATR and Dutch firm Hendrik will each have an equal share in Cosalt Offshore Norway, with the venture being renamed Myhre Rope Services.
ATR bought the firm in 2012 following investment by the NBGI Private Equity Group.
The new partnership will see the former Cosalt business continue to manufacture and supply lifting slings and lifting, towing and mooring equipment from its deep-water quay and yard in Stavanger.
The firm will also perform annual inspections, equipment service and re-certification work.
“This partnership will facilitate further growth and development in the already successful Norwegian arm of our business,” said ATR Group chief executive Keith Moorhouse.
“We have enjoyed a close working relationship with Hendrik Veder Group in the past and look forward to increasing our market share through this venture.”