Delta Marine Technologies, Inc. (DMTI) announced the formation of Delta SubSea, LLC. Delta SubSea was formed through the contribution of the pre-existing DMTI business into the newly-formed Delta SubSea, which was then re-capitalized with significant new equity capital from CSL Capital Management, LLC.
DMTI was founded by Scott Dingman in 2004 and is a leading provider of engineering and personnel contracting services for the global offshore oil and gas industry. Going forward, the Company will continue to offer these services while also making a major expansion into ROV services for offshore operators and contractors. The Company expects to enter into a multi-year framework agreement with a major manufacturer of ROV systems. Delta SubSea's fleet will be focused on work class ROV solutions for customers in the inspection, repair and maintenance, construction, drilling and decommissioning market segments. Dingman will continue to lead the Company as its Chief Executive Officer and is a co-owner of the Company.
"We are very pleased to partner with CSL Capital to form a leading integrated independent provider of ROV services and solutions. We at Delta SubSea strive to be best-in-class in all we do and this is the core philosophy of our new ROV business. We look forward to serving our customers with rapid deployment customized solutions for the challenges of the offshore oil and gas industry," Dingman said.
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