Offshore engineering firm Maritime Developments has launched a new equipment hire service as it is looking to more than double last year’s profits.
The Peterhead-based company expects to close the financial year with a £12million turnover – a 110% increase on its 2013 figure of £5.7million.
A growing international demand for the firm’s services, which last year expanded its presence outside the North Sea to the Gulf of Mexico, Asia Pacific and West Africa, contributed to the results and facilitated the start-up of the new hire division, said the commercial director Mike Gaskin.
“We’ve continued to grow the business organically and the launch of an equipment hire business stream was a natural step,” Gaskin said.
“We design and manufacture the full range of back-deck equipment, so we have the capability in-house. We also have the ability to install the equipment and maintain it, if required.”
The new hire fleet will include an 8.6m diameter installation reel, a 250-tonne lift beam, a 50-tonne radius chute, powerpacks and a small crane; the company said it will also make personnel available when required.
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