Rovop, which specialises in all aspects of subsea remotely-operated vehicles, is celebrating £3million-worth of new contracts and expansion into new markets.
The Westhill-based company said yesterday its new work for existing and new clients would see it complete projects in south-east Asia and Mexico for the first time.
It also announced the appointment of Neil Francis as vice-president of business development in its Houston office in the US.
The firm said its recent deals were a major coup for its operations either side of the Atlantic, building on work completed in the US Gulf of Mexico and elsewhere in the Americas over the past three years.
Chief executive Steven Gray added: “The market remains challenging but our ability to save operating costs for our customers, while using the best equipment and personnel on the market, means we continue to enjoy regular contract wins.
“The challenge the industry faces should not be underestimated but we are working to reduce costs for customers by reducing vessel time and increase efficiency.”
Commercial director Euan Tait said the recruitment of Mr Francis, who was previously worked for Subsea 7, was “an important part of our plans to step into new territories to further strengthen our position”.
Rovop was set up in 2011 by Mr Gray, chairman Mark Vorenkamp and former technical director Scott Freeland.
Now employing 135 people, the company has invested more than £45million in its ROVs, £500,000 in a training academy and £4.2million in its Westhill headquarter in the past five years.
It opened the office and support base in Houston just last year, shortly before unveiling £4.2million new headquarters in Westhill as part of expansion plans fuelled by a £10million cash injection from the Business Growth Fund.
Rovop suffered losses of £4.4million during the 12 months to September 30, 2015, compared with profits of £2.3million a year earlier, after key customer Ceona went into administration.
The collapse of Ceona, a heavy subsea engineering contractor, left Rovop with a £3.8million hole in its balance sheet.
Rovop’s turnover increased to £17.2million in the latest period, from £15.4million previously.
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