Ulmatec to acquire Cetix GroupCompany News // November 3, 2011
Ulmatec in Norway has reached an agreement regarding the acquisition of Stavanger-based Cetix Group AS, a technology company with long international experience in the oil and gas industry. Cetix is a holding company with subsidiaries in Stavanger, the UK and Lithuania.
“This acquisition strengthens the range of services and capacity offered by the companies to the energy and offshore industries,” said Cetix's Chief Executive Arne Sørbø.
“Our organisations already know each other well, so this is a natural step for us. In particular, we’ve had a fruitful collaboration with Ulmatec Stromek."
“This has covered LARS systems for handling ROVs, for which we have delivered electrical winches which compensate for wave motion.
“With more and more customers wanting to deal with system suppliers, our two companies are a good fit. We complement each other well geographically in Norway, and together we’ll be better positioned to penetrate the international marine and offshore market.”
Ulmatec's long-term strategy is to invest in and develop local expertise in order to reach out to an international marine market.
“With the acquisition of Cetix we want jointly to develop a strong marine grouping with Norwegian ownership which offers quality products and the best service in the market,” said Stig Ulstein, group chief executive of Ulmatec.
Mr Ulstein says collaboration between the companies on high-performance electric winches will now become much closer.
“We see that Cetix complements us in more areas than LARS systems,” he said. “Cetix makes control systems for wireline operations in the subsea industry, and control and safety-critical systems for the whole energy sector.
“This acquisition will also strengthen our expertise and capacity for engineering, project management, electrical engineering and control systems.”