Posted on 30.07.2010 - 10:00 UTC in ACQUISITION/MERGER NEWS by Rons_ROV_Links
SubConn Inc. customers are set to benefit from faster lead times and increased product support as the leading connector manufacturer recently purchased the assets of their main supplier of inner machined parts, Cornerstone. This acquisition has brought the entire manufacturing process of underwater connectors under one roof and will streamline production.
Along with the machining capabilities, SubConn now has an additional 11,250 square feet of space and doubled its production capacity. With an increase in headcount of approx. 30%, they have gained a skilled engineering workforce and increased their engineering potential for new product development and customer support.
Production space has expanded so that capacity can be rapidly increased as the market continues to expand, allowing SubConn to keep low delivery times even with large order books. They will also be expanding their PUR facilities to meet the increased demand for special systems, such as their new high speed certified Ethernet systems.
Niels Erik Hedeager, CEO for MacArtney Underwater Technology, which is a partial owner of SubConn Inc and worldwide Subconn agent (outside the US), explained their move:
"The SubConn acquisition of Cornerstone was a natural move to accelerate delivery times and improve service. Extending our control even more means that we can optimise many processes and we now have a wealth of engineering knowhow on which to draw."