PSN Extends Cosalt's North Sea Equipment Contract

Cosalt Offshore has been awarded a three-year contract extension by PSN worth up to £18million to supply all its lifting and tooling equipment requirements in the North Sea.

The renewal of the deal is one of Cosalt Offshore's biggest contract wins and runs for a minimum of three years with annual options to extend.

It involves PSN outsourcing its E-quip division to Cosalt Offshore for the purchase and supply of small plant & equipment for PSN's client base.

Cosalt Offshore Chairman Calum Melville said, "Winning such a prestigious contract renewal from a client as important to us as PSN is a fantastic start to 2010. We aim to build strong relationships with our customers and continually surpass their expectations. We have an excellent working relationship with PSN and the contract extension is the latest in a series of high-value, long-term deals we have secured as part of our ongoing growth strategy.

"Our core aims are to offer a cost-effective service in which safety is paramount and as a result we have retained existing clients and won new ones. By fulfilling the work for PSN, we will be serving its large network of offshore clients, spanning the whole of the UK sector of the North Sea."

PSN's Procurement and Materials Manager, Cameron Marshall said, "Cosalt Offshore’s proven ability to meet PSN's requirements was a determining factor in awarding this contract extension. Over the last three years of working with Cosalt Offshore we've been impressed by their track-record of consistent high standards of delivery, quality and safety."