Ashtead Technology and Forum Energy Technologies complete joint venture

Published by Elizabeth Corner, Senior Editor
World Pipelines, Thursday, 04 January 2018 12:00

As part of the transaction, Forum Energy Technologies contributed its subsea rentals business, which traded as Forum Subsea Rentals, creating a leading, independent provider of subsea survey and remotely operated underwater vehicle (ROV) equipment rental services.

Allan Pirie, CEO of the combined business, trading as Ashtead Technology, commented: “With a fleet of 19 000 assets valued in excess of US$139 million, and the ability to service all major subsea hubs, we become a business of significant scale and enhanced capability that is well placed to support our customers’ project requirements.

“We are ready and looking forward to helping address our customers’ challenges head-on.”

Read the article online at: https://www.worldpipelines.com/business-news/04012018/ashtead-technology-and-forum-energy-technologies-complete-joint-venture/