ODIM to Acquire Ulsteinvik-Based DIMO for NOK 36 Million

ODIM plans to acquire Ulsteinvik-based DIMO for NOK 36 million to strengthen after sales and service capacity within the organization.

"Continued growth within all market areas, has resulted in increased activity in the After Sales and Service division, both nationally and internationally. This acquisition pro-actively adds substantial capacity and expertise to help realize the full potential within this important market area", says ODIM CEO Jogeir Romestrand.

The rapid growth of ODIM solutions on the global fleet of vessels over the past few years along with a strong order backlog support the strategic initiative of building a strong international network that can satisfy service requirements.

"ODIM is committed to providing service to customers 24 hours a day, 7 days a week for 365 days a year," emphasized Romestrand, indicating that immediate service is particularly critical for clients within the oil service sector.

"Interruptions to offshore operations are very expensive and it is critical that ODIM provides support through the product life cycle. The DIMO capacity and expertise will contribute substantially to our need for service engineers, technical support, sales personnel and training services," he says.

DIMO is situated in modern office and production facilities located in Ulsteinvik, Norway, and is well positioned to expand operations to support the incremental opportunities within the ODIM group. The agreement is subject to due diligence and board approval.