Maritime Developments Wins Subsea Order

Scottish subsea equipment supplier Maritime Developments reported Tuesday that it has won $10.5 million of contracts, including a deal to design and manufacture a new technology for field development in the North Sea.

The contract will see Maritime deliver its first order for its new portable overside vertical lay system (PVLS) to an installation contractor. The company said that it has also delivered a package of 10 winches, ranging from five-ton to 40-ton specifications to an international client.

Maritime said that the orders bring the value of electrically-driven items of deck machinery delivered by the business since it set up an electrical department in 2012 to more than $18 million.

Maritime CEO Derek Smith commented in a company statement:

"These orders exemplify the growth we have experienced within the business in recent years, and highlight our commitment to build long-term relationships with clients who recognize the rigor and professionalism we apply to everything we do."

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