Triton Group Expands Subsea Services into Asia
Companies operating in the Asia Pacific region can now tap into the oil and gas subsea technology and services expertise of Triton Group as the company initiates a major corporate expansion into the marketplace.
Triton has announced today at OSEA '08 that it is investing in a stronger business presence in Singapore by widening its capabilities to encompass all Group businesses including Perry Slingsby Systems, Sub-Atlantic, Dynamic Positioning Services (DPS), UK Project Support (UKPS), Subco and Visualsoft.
The Group's Singapore subsidiary Cynergetix is already an established ROV support provider servicing Triton customers operating across Asia. This new move will provide customers in the region with access to the full portfolio of Group companies with further expansion to support the remaining businesses Geoscience Earth and Marine Services (GEMS) and VMAX Technologies expected to take place throughout 2009.
The Aberdeen-based Group has driven forward its strategy of becoming a global market leader with the acquisition of eight companies in deals totaling more than £100million since its formation in 2007.
Led by newly appointed regional director Bruce Lokay, with support from regional managers Stuart Kendall and Frank Crighton, the first stage of expansion will begin operations on January 1, 2009.
It will launch with a combined rental and spare parts inventory of over $3 million (USD) with plans to expand this capacity to over $5 million in 2009. It will offer a range of specialized deepwater tooling systems and equipment for sale or rental from across the spectrum of the Group companies, plus technical support and recruitment services for oil and gas customers.
The international expansion underlines a confidence in Triton Group's growth prospects in the rapidly growing subsea oil and gas sector, says chief operating officer Dave Sturrock.
"The Asia-Pacific region presents considerable opportunities and is expected to enjoy further growth. Following the successful opening of our Houston operation, Singapore is the next phase in our growth strategy and we are excited in bringing our expertise to this significant marketplace," he added.
Martin Anderson, chief executive officer stated, "This expansion is the next step in our strategy to provide the best value customer support in key business regions and continues the development of a global model. The success of Cynergetix and the growing level of business activity for Triton Group in Asia Pacific underpins the
confidence we have to continue investing in the region."
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