Fugro to Acquire JDR Cable Systems
Fugro has reached agreement with JDR Cable Systems (Netherlands) Ltd to acquire JDR Cable Systems Holdings Netherlands BV and its marine cable subsidiary JDR Cable Systems BV, together comprising JDR's Marine Cables division.
JDR Marine Cables designs and produces special marine cables for oil and gas (subsea lead-in cables, array cables, control cables), geophysical (airgun umbilicals, lead-ins) and defense (towed arrays) market segments. The facility is based close to Rotterdam in the Netherlands, and the division has around 110 employees. The division will operate as an independent unit and aims to further develop its current range of products and services and to continue the supply to all its clients.
Current annual revenues of the company are in the order of Euro 25 million. The division will be renamed to De Regt Marine Cables.