iicorr acquires Subspection

iicorr has acquired Subspection for an undisclosed sum.

Offshore staff

ABERDEEN -- iicorr has acquired Subspection for an undisclosed sum.

Subspection, based in Alresford and Singapore, employs 30 people and is a provider of cathodic protection survey, consultancy, engineering, and subsea sensor equipment to the oil and gas and marine industries. The company will be integrated into iicorr's new cathodic protection services division and aid iicorr's expansion internationally in the area of subsea technical integrity.

"The acquisition of Subspection is a logical move for both firms," says Richard Holt, Subspection's MD. "Our team is looking forward to growing with iicorr in the future with the support of the existing staff and I am certain that we will benefit greatly from the infrastructure already in place at iicorr.

The company is now in a leading position in the offshore technical integrity industry and with the current worldwide growth of the subsea market, there is a need for a provider which can offer a complete subsea technical integrity portfolio."

04/10/2008

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