ATR has signed a UKCS partnership WireCo WorldGroup, opening up major market expansion opportunities for the companies.
ATR is a leading energy equipment services business, and WireCo WorldGroup is an industrial wire and rope product manufacturing giant.
ATR is a leading energy equipment services business, and WireCo WorldGroup is an industrial wire and rope product manufacturing giant.
“This is an ideal alliance for us, given our strong position in the lifting industry across the energy sector throughout the North Sea and Caspian regions,” said chief executive of ATR, Keith Moorhouse. “Significant demand across the energy sector has delivered a major growth opportunity for us through this partnership with WireCo, and as a result, we have made an initial investment of close to £500,000 in stock and specialist resources to ensure we are able to meet our client’s demands. We fully expect to see a rise in turnover in excess of £5million over the term of this agreement.”
ATR will have the ability to provide the UKCS oil and gas market with three of WireCo’s key product lines and expects to see turnover rise by £5 million during the course of the agreement.
“We recognize ATR as a key player in this market and look forward to providing our full support to this partnership. Together, we will provide great products and service to deliver results for their customers,” said senior vice president and global oilfield market director for WireCo, John Josendale.
ATR secured more than £20 million in investment from NBGI Private Equity and Clydesdale Bank in early March, as it pursues a global expansion plan. The company completed its first acquisition of Underwater Engineering Services, a specialist supplier of marine and subsea support equipment to the diving, ROV and survey sectors of the global offshore industry, in summer of 2012.
