Connector Subsea Solutions (CSS), headquartered in Bergen, Norway, has signed an agreement for the acquisition of Hydratight’s MORGRIP Connector business in Walsall, UK.
Over the last six years, CSS and Hydratight have collaborated to deliver challenging subsea pipeline repair projects. The MORGRIP Connector business will become an integral part of CSS’ extensive repair and modification services for subsea and deepwater pipeline repair. The consolidated entity will consist of 60 employees dedicated to pipeline repair products and services.
Pipeline repair connectors are critical components in the repair of oil and gas pipelines. The operator’s requirements for this type of equipment are extremely high as the consequences of failure are dramatic with regards to potential environmental and commercial impacts and even to a region’s overall energy supply. MORGRIP Connectors boast a 100% leak free in-service track record of over 30 years.
Hydratight’s MORGRIP business has a reference list second to none with more than 3000 connectors delivered to the global oil and gas industry. MORGRIP’s offer a unique, robust, field proven, durable design that meets all of the industry’s strictest qualifications. This makes MORGRIP the primary choice of connector for the repair of critical pipelines and is in use by most of the major operators.
The MORGRIP connector has also proven to be the connector of choice for emergency pipeline repair systems (EPRS) worldwide and through the acquisition, CSS takes a lead position providing emergency pipeline repair for more than 300 high value pipelines.
The acquisition of the MORGRIP business completes CSS’ products and service offering enabling CSS to take a lead role in providing complete subsea and deepwater pipeline repair solutions, delivering it’s services on a sale or rental basis worldwide.
“This has been a strategic move to build a foothold in a market that we believe will grow significantly the next few years. With the MORGRIP Connector and the MORGRIP team onboard we have taken a position to meet client’s requirements for the effective execution of demanding deepwater pipeline repair projects,” said Pål Magne Hisdal, chairman of CSS.
“The strong synergies already in place between the teams have already enabled us to develop unique and effective solutions, this fully integrated business offers ourselves and the market some very exciting opportunities,” added Paul Hughes, MORGRIP Business Leader.
Read the article online at: https://www.worldpipelines.com/business-news/16092019/connector-subsea-solutions-acquires-hydratights-morgrip-business/
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