Sub-Atlantic Mid-Year Results Improves Triton's Outlook

Sub-Atlantic, a market leader in the design and manufacture of electric Remotely Operated Vehicles (ROVs) has secured orders of up to £7 million this year to date.

The orders, which are for a mixture Super Mohawk, Mohican and Comanche systems as well as multiple orders for thrusters and ROV components, are all due for delivery to customers worldwide throughout 2007. The ROVs will be used for survey; construction and inspection work in a variety of projects, predominantly in the oil and gas sectors.

Triton Group Holdings acquired the Aberdeen-based company, which employs 40 people, in May this year. Triton Group aims to create a group of companies focused on providing state-of-the-art remote intervention and control technologies and services. The acquisition came hot on the heels of the group’s acquisition of Perry Slingsby Systems (PSS), the world’s leading supplier of remotely operated technologies to the offshore industry.

Martin Anderson, chief executive of Triton Group Holdings, said: "Sub-Atlantic have performed well since joining the Triton Group and these orders justify our confidence in the future. The success of Sub-Atlantic is a vital component in Triton’s exciting and ambitious growth strategy to become a world-leader in technology and services to the international oil and gas industry.

"I congratulate the staff and thank them for their contribution to making this a successful year. I also thank our customers for their continued support and we look forward to a long and successful relationship."