Mooring specialist looks to North Sea

Mooring equipment designer plans to invest in R&D and composites, following management buyout

Offshore staff

(North Sea) - Following a £22 m management buyout, mooring/buoyancy specialist Balmoral Marine has been re-named Viking Moorings. The company, based in Aberdeen and Stavanger, is looking to capitalize on increased activity in the North Sea in particular.

Management plans to invest over £10 m in R&D, design and manufacturing plant in its Tanks and Advanced Composites business divisions.

One of the company's main competitors, CRP, was recently acquired by Sweden's Trelleborg for SEK 950 m. CRP owns production operations in northwest England, Houston and Massachusetts.

1/28/06

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