IKM buys Oceaneering’s On-site Machining & Cutting business
IKM Testing, a supplier of mechanical completion and commissioning services, has entered into a purchase agreement to acquire Oceaneering’s Norwegian On-site Machining & Cutting business.
IKM Says that on-site machining includes flange facing, pipe cutting and beveling, line and hole boring and plane and groove milling. The topside cutting services include abrasive water jet cutting, diamond wire cutting and mechanical cutting. The department also performs composite repairs, IKM has added.
Furthermore, IKM said it will retain Oceaneering’s employees, the technology, contracts and a comprehensive equipment fleet.
Vidar Haugland, Vice President IKM Testing Norway, says: “This acquisition is in line with our strategy and will strengthen IKM Testing’s position considerably within on-site machining and cutting. We will also add on new technology expertise within composite repair. This fits well with IKM Testing as a complete specialist supplier within completion, maintenance and decommissioning.”