Fugro agrees to sell trenching, cable lay services
Oct. 13, 2017
Global Marine Group has entered into an agreement to acquire Fugro’s trenching and cable lay services business.
Offshore staff
CHELMSFORD, UK – Global Marine Group (GMG) has entered into an agreement to acquire Fugro’s trenching and cable lay services business.
The purchase is valued at around $73 million, and would involve the transfer to GMG of 23 Fugro employees based in Aberdeen, theM/V Symphony, two Q1400 trenchers, and two work-class ROVs.
TheM/V Symphony, built in 2011, is a multi-purpose vessel with a 1,400-sq m (15,069-sq ft) deck space: under the agreement it will join GMG’s cable installation and maintenance fleet.
In addition, Fugro will become the company’s preferred provider of marine site characterization and asset integrity services.
