Mark Tool and Elite Elastomers form joint venture
Published by Nicholas Woodroof,
Mark Tool and Elite Elastomers have entered into a joint venture (JV) that will focus on the research, development and end-use application for elastomeric subsea high temperature thermal insulation systems.
The systems can be installed via three methods: S-Lay, J-Lay and Reel-Lay. The newly formed company has been named MTE.
MTE will build on Elite Elastomers’ elastomeric material research and development innovations, and Mark Tool’s application and manufacturing technology. MTE, which will initially focus on the Gulf of Mexico, will enable the two companies to grow within the field of high temperature subsea thermal insulation systems, while offering turnkey solutions.
Jerome Hebert, Mark Tool and MTE Owner, commented: “We are excited to partner with Elite Elastomers to develop a new, complete, elastomeric solution system for the subsea thermal insulation market. We look forward to combining our capabilities and technologies to deliver innovation in the end-use application. We are excited about the state-of-the-art production capabilities this new chapter will bring, as it will allow us to provide our customers with an insulation system from the splash zone to the sea floor.”
Steve Glidewell, President of Elite Elastomers and MTE Owner, said: “We are thrilled to have established this JV and look forward to combining our efforts with the Mark Tool team. MTE’s product is unique in the market. It is the only insulating material capable of operating at 350° Fahrenheit while capable of being deployed using the J-Lay, S-Lay and Reel-Lay methods.”
The JV team will be formed from current Mark Tool and Elite Elastomers employees and will be located in Louisiana and Mississippi, US.
Read the article online at: https://www.worldpipelines.com/business-news/24012018/mark-tool-and-elite-elastomers-form-joint-venture/
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