Ashtead Technology has secured a new contract with FUGRO to be a preferred supplier of subsea rental equipment and associated services to all its operating companies around the world.

The award comes as the Aberdeen head-quartered business, which is the only global, independent provider of subsea electronic and survey equipment rental, sales and services, launches its 30th anniversary celebrations at Subsea Expo tomorrow (11 February 2015) marking three decades of subsea technical excellence.

In the new two year agreement, Ashtead Technology will rent subsea equipment, including underwater positioning, subsea inspection, ROV survey sensors and tooling, metocean, hydrographic and geophysical and camera and video equipment, to FUGRO companies world-wide.

Tim Sheehan, commercial director of Ashtead Technology, said: “This is a strategically important contract win for us and we are totally focused on delivering real value and efficiencies to FUGRO by meeting all their requirements for subsea equipment across their global operations. We believe this contract award is a result of our service delivery to Fugro over the last two years coupled with major investment in our rental fleet which guarantees our customers can access the latest and most in-demand technology on the market.”

Ashtead Technology, which made its biggest single annual investment of £10million in its fleet last year, is committed to further investment in the coming years.

“FUGRO is a major account for us and we will be working hard to build on existing relationships with all its operating companies from Aberdeen to Bergen, Cairo to Abu Dhabi, Singapore to Perth Australia and from Rio to Houston,” added Mr Sheehan.

Formed in 1985 as a subsea equipment rental company, Ashtead Technology has grown to become a market leader in providing integrated subsea technology solutions to customers around the globe.

The company has marked three decades in business with a clear strategy for the future to further increase its range of services. Through the delivery of enhanced technical support services, increasing the capabilities of its teams across the business and investing in the latest technology to build the largest and most modern rental fleet in the subsea sector, Ashtead Technology is well on-track to achieving its ambitions and is committed to further improving and growing its range of value-added services which now include the supply of offshore personnel, equipment sales, complete asset management, calibration, repair and maintenance, custom engineering, cable moulding and training through the recently launched Ashtead Academy.

Mr Sheehan said: “With recent strong growth, significant investment in our rental fleet, a number of exclusive product sales agreements secured with world-leading manufacturers and a brand new, industry-first training academy, we have entered our 30th year in a robust position.

“Since the eighties, the subsea sector has evolved to become a recognised stand-alone industry that has been growing globally at a phenomenal rate. With the recent decline in oil price, 2015 is set to be a challenging year but innovation and technology will be key to driving efficiency and Ashtead is ideally placed to work hand-in-hand with our customers to explore and then deliver the best and most efficient solutions for their specific needs.”

Ashtead Technology now employs 95 people in Aberdeen, London, Houston and Singapore with agents in Abu Dhabi, Perth (Australia) and Stavanger.

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