DeepOcean to Split UK Business into Two Units
Subsea services provider DeepOcean Group will split its UK business into two separate business units, the company announced Sunday.
The split will see the existing Cable Lay and Trenching division (DeepOcean CL&T) divided into a seabed intervention unit under a new standalone brand as well as DeepOcean Subsea Cables, a subsea cable installation specialist.
Pierre Boyde, managing director of DeepOcean CL&T, will head up the seabed trenching division. It will be headquartered in Port of Blyth, UK.
DeepOcean CL&T operations director Steve Marshall will serve as managing director of DeepOcean Subsea Cables. This company will have headquarters in Darlington, UK.
The split and new brand announcement are scheduled to be finalized within 2019. Pierre Boyde, Managing Director of DeepOcean CL&T will head the seabed trenching division, headquartered at their world class facilities at Port of Blyth, UK.
“DeepOcean is to develop these businesses as standalone units to unlock potential with distinct offerings in an evolving market place, creating value for all stakeholders,” DeepOcean’s CEO, Øyvind Mikaelsen, said in a company statement. “We are excited about the future for the new divisions and how they will help DeepOcean Group expand and strengthen its market offering.”
The split and new brand announcement are expected to be finalized this year.
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