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Mon 14 Apr 2008 05:26 PM

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iicorr acquires Subspection

Acquisition set to provide quality offshore corrosion protection solutions.

Aberdeen integrity, inspection and corrosion specialist, iicorr, is celebrating its future expansion after its acquisition of Subspection. The combined expertise of the two companies will result in a new Business Division in iicorr, creating an organisation specialising in subsea technical integrity and corrosion solutions.

"This is an extremely positive and exciting acquisition for iicorr which position's the company as the market leader in offshore cathodic protection services and subsea technical integrity. The joint expertise will offer class leading support of deepwater assets and aging infrastructures as well as providing a broader and more comprehensive scope of services," said George Watson, managing director, iicorr.

Subspection, based in Alresford and Singapore, is a provider of cathodic protection survey, consultancy, engineering and subsea sensor equipment to the oil and gas and marine industries. The company will be integrated into iicorr's new cathodic protection services division and aid iicorr's international expansion in the area of sub sea technical integrity.

Richard Holt, managing director, Subspection commented: "The acquisition of Subspection is a logical move for both firms. Our team is looking forward to growing with iicorr in the future with the support of the existing staff and I am certain that we will benefit greatly from the infrastructure already in place at iicorr.

The company is now in a leading position in the offshore technical integrity industry and with the current worldwide growth of the subsea market, there is a need for a provider which can offer a complete subsea technical integrity portfolio," he added.

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