Global power-system company Rolls-Royce said yesterday it was to take control of Norwegian oil service firm Odim in a £154million deal.
The UK group already owns 33% of the Hareid-based business, which employs about 900 people worldwide.
The Odim board has unanimously recommended its shareholders accept the offer for the remaining 67% of the company. Odim is a marine technology company which develops and sells advanced automated handling systems for seismic and offshore vessels.
Rolls-Royce is said to have complementary capabilities in integrated ship systems for the offshore industry, including vessel design and the design and integration of power and propulsion systems.
John Paterson, president of Rolls-Royce Marine, said: “This is an attractive proposition. Odim is rich in technology with a unique subsea and deepwater capability that complements our own activities.
“Integrating Odim’s innovative technology and highly skilled people into our business will enable us to optimise our offering and provide our global customer base with a wider range of products and services in this important market segment.”
Arild Hatloy, chief financial officer and acting chief executive of Odim, said: “We see great potential for Odim in becoming part of a truly global business. We believe that Rolls-Royce’s ownership will help us to optimise our business, enabling us to better serve our customers, as well as expanding opportunities for our employees.”
The marine business of Rolls-Royce employs 8,000 people in 34 countries.
Rolls-Royce has a joint venture in Aberdeen with Wood Group. Rolls Wood Group provides maintenance, repair and overhaul services for gas turbines used in the global power-generation, oil and gas, industrial and marine markets.