Posted on 10.03.2010 - 11:00 EST in ACQUISITION/MERGER NEWS by Rons_ROV_Links
SMD is pleased to announce the acquisition of the business and assets of Hallin Robotics Ltd (HRL), from Hallin Marine Subsea International PLC. The transaction was completed for an undisclosed sum and the business will become known as SMD Robotics Ltd.
HRL has established a position for developing and engineering remote solutions for the nuclear decommissioning market, together with bespoke applications for the offshore and subsea markets, in particular offshore decommissioning.
It has facilities in Malton, North Yorkshire and Seascale, Cumbria, which will continue to be operated under the SMD Robotics Ltd banner.
SMD is a world leading provider of subsea vehicles and deck equipment, serving the oil and gas, telecoms, renewable energy, scientific and defence markets among others. It is headquartered in Wallsend, UK.
Commenting on the acquisition, Andrew Hodgson, CEO at SMD said "The subsea market has led the way in developing remote solutions that reduce the risk in hazardous operations, whilst increasing efficiency.
"We believe that the nuclear decommissioning market is beginning to recognise the benefit of high quality engineered solutions, and with the demand in the decommissioning market for both nuclear and oil and gas significantly growing we hope to achieve a leadership position in this market."
Andrew added: "I am delighted to have gained a high quality, experienced team who understand the sector requirements well. SMD is experiencing significant growth across all markets, and we look forward to growing the team at SMD Robotics to support our expanding business."
Joanne Leng, Director Business Development at NOF Energy, the business development organisation for the oil, gas and energy sectors of which SMD is a member, said: "There is a growing synergy between suppliers to the oil and gas and nuclear sectors and this acquisition further enhances SMD's position in the supply chain.
"SMD has identified the importance of broadening its appeal to the wider energy sectors and, through this acquisition coupled with its already established reputation in the energy sectors, will become an attractive supplier to the nuclear decommissioning market."