Fugro agrees to sell trenching, cable lay services

Global Marine Group has entered into an agreement to acquire Fugro’s trenching and cable lay services business.

Offshore staff

CHELMSFORD, UK – Global Marine Group (GMG) has entered into an agreement to acquire Fugro’s trenching and cable lay services business.

The purchase is valued at around $73 million, and would involve the transfer to GMG of 23 Fugro employees based in Aberdeen, theM/V Symphony, two Q1400 trenchers, and two work-class ROVs.

TheM/V Symphony, built in 2011, is a multi-purpose vessel with a 1,400-sq m (15,069-sq ft) deck space: under the agreement it will join GMG’s cable installation and maintenance fleet.

In addition, Fugro will become the company’s preferred provider of marine site characterization and asset integrity services.

10/13/2017

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