Tekmar Group seals £5m contract with UK offshore wind project
The deal announcement comes a month after the firm’s CEO revealed a new three-year strategy for growth.
County Durham subsea specialist Tekmar Group has won a £5m deal with a UK offshore wind project.
The Newton Aycliffe business, which makes products and solutions for the global offshore energy market, will design and supply its flagship Generation 10 cable protection system and associated products, including cable hang-off clamps.
The project starts immediately and it is expected to be completed during this calendar year.
CEO Richard Turner said: “We are delighted to be partnering with this client for the first time on a project of this size as part of their Engineering Procurement, Construction and Installation (“EPCI”) scope of supply. Tekmar has been selected because of our integrated offering, including our early-stage engineering support, our customer focus and our track record which is unrivalled in the industry.
“We will design and deliver next generation protection solutions to this landmark project in the UK, this is testament to the differentiated value that Tekmar brings to protecting offshore assets. This contract is also an important step in delivering our ambitious plans for order book development in FY25 and beyond as we look to outperform an improving and growing market.”
Mr Turner last month unveiled a new three-year plan to reach record results, as headwinds ease within offshore markets.
The CEO, who took up the role last September, has plans for growth including making complementary acquisitions, and outlined a strategy to increase market share by driving higher order intake across the group’s existing portfolio of products and services alongside its strategic acquisition plan, where Tekmar will seek to bring further scale and complementary technology into the group.
Source: https://www.business-live.co.uk/manufacturing/tekmar-group-seals-5m-contract-30869859
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Source: BusinessLive.co.uk
