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| Image: on-site machining/IKM Testing |
The IKM Group announced that IKM Testing has entered into a purchase agreement to acquire Oceaneering’s Norwegian Onsite Machining & Cutting business.
Onsite Machining includes Flange Facing, Pipe Cutting and Beveling, Line and Hole Boring and Plane and Groove Milling. The topside Cutting services include Abrasive Water Jet Cutting, Diamond Wire Cutting and Mechanical Cutting. In addition the department performs Composite Repairs. IKM will retain Oceaneering’s employees, the technology, contracts and a very comprehensive equipment fleet.
“This acquisition is in line with our strategy and will strengthen IKM Testing’s position considerably within onsite machining and cutting. We will also add on new technology expertise within composite repair. This fits well with IKM Testing as a complete specialist supplier within completion, maintenance and decommissioning” emphasis Vidar Haugland, Vice President IKM Testing Norway.
IKM Testing is a company within the IKM Group. The company was established in 1992 and has grown to become a major supplier of mechanical completion and commissioning services both to the onshore and offshore industry in Norway and international locations. IKM Testing does currently employ about 920 employees and generated total revenue of approximately US$187 million (NOK1.548 billion) in 2014.
IKM Testing has three department offices in Norway (Bergen, Kristiansund and Hammerfest). Internationally, the company has established subsidiaries in Canada, Mexico, Brazil, Australia, Singapore, Malaysia, Thailand, Indonesia, Korea, Poland, Spain and UK.
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