Subsea Innovation, one of the world’s leading subsea equipment suppliers, has completed work on its new headquarters and manufacturing facilities.
The completion of the new facility follows on from a prolonged period of growth, which required the company to increase capacity in order meet demand for its products from key players in the oil, gas and renewable industries.
The development, which is double the size of its previous headquarters, has enabled Subsea Innovation to test Launch and Recovery Systems (LARS) to lift up to 100 tonnes and it has installed cranes capable of handling up to 50 tonnes of equipment.
The move has allowed the company to compete for larger contracts and it has already sealed a 7 figure order from Middle-Eastern energy supplier RasGas to supply pipeline clamps and connectors.
Work on the 40,000 sq. ft. facility was carried out by local contractors J and RM Richardson and was designed by Darlington’s Architects Design Group.
Subsea Innovation’s annual turnover exceeded £10m for the first time in its history in 2013, up from £7.5m in 2012. The company is expecting to pass the £10m turnover mark again in 2014 as its exiting journey continues.
This growth has seen the business increase its staff numbers from 30 in 2012 to an expected 50 by the end of this year.
Martin Moon, Managing Director at Subsea Innovation, said “Our new headquarters demonstrates the progression we have made over the past two years. It was always our aim to double in size to compete for larger contracts and is extremely satisfying now that this has been realised.
“The facility can test heavier equipment and with more capable cranes and the additional workspace that it brings it will enables us to develop our research and development side further, which will prove to be a key factor in securing future work.
“We are currently in the process of transferring projects to the new headquarters and expect to be fully operational by November.
“The fact that we have had to expand our operation is a great testimony to the work that we are doing here and with large organisations such as RasGas choosing Subsea Innovation we are not short of endorsements.”