Aberdeen firm Nautronix is targeting turnover growth of about 30% in its current trading year, boss Mark Patterson said yesterday.
Mr Patterson, the marine technology company’s chief executive, said 2014 had got off to a strong start after the successful delivery of the first two subsea systems in a £6million-plus contract with offshore contract drilling giant Rowan Companies.
This and a string of other recently secured orders are expected to push turnover for the year to June 30 to around £21million, compared with £16.17million in 2012/13.
Mr Patterson said turnover of £20million for calendar year 2013 also reflected fast-growing demand for the firm’s products and services globally.
The Rowan deal sees Nautronix supplying a total of four systems for two new ultra-deepwater drillships, the Rowan Relentless and Rowan Reliance.
Nautronix is supplying two technologies under the contract; its NASeBOP and NASDrill RS925 systems.
NASeBOP provides back-up control for critical functions in the event of a blowout preventer failure and NASDrill RS925 is an acoustic positioning system designed specifically for demanding offshore operations, in particular deepwater drilling vessels.
Fred Brooks, who heads up Rowan’s deepwater fleet, said: “We reviewed various suppliers in the global market to ensure we chose the best digital acoustics.”
Mr Patterson said: “It is very encouraging to see the high level of interest we are receiving in these systems from the industry.”
Nautronix currently employs 120 people after adding about 40 to its workforce in the past few years.
Mr Patterson said there was no sign of any let-up in the company’s expansion.
The firm is about to launch innovative dive communication technology, in which it has invested about £1million, while new contracts still to be announced include systems destined for the Arctic and a drilling rig being built in South Korea.
The company opened new headquarters in Howe Moss Crescent, Dyce, in 2012. It also has offices in Stavanger in Norway, Houston in the US and Rio de Janeiro and Macae in Brazil.
Mr Patterson and north-east businessman Ian Suttie acquired the firm for about £18million in 2002 before selling it to private-equity firm SCF Partners for tens of millions eight years later.