IHC MERWEDE ACQUIRES SEA STEEL Ltd

IHC Merwede acquired 100% shares of SEA STEEL Ltd and its subsidiaries on 4 April 2008. The company is based in Dorset (UK) and has an extensive track record of developing innovative sub-sea piling solutions for the oil and gas industries. The company will operate under the name IHC Sea Steel.

SEA STEEL is responsible for a number of “everyday” innovative piling tools including the patented “Fast Frame” that has been developed to substantially reduce offshore installation times whilst maintaining pile orientation and verticality tolerances. The current rental fleet can be used for driving piles from 20” to 96” in diameter in water depths up to 2,000m.

The founder Mr. Clive Jones is in the coming period still available, he will transfer his knowledge to the new director Carl Mogg and his team.

IHC Merwede is world market leader in the construction of specialist dredging equipment and complex custom-built offshore vessels. The clients of IHC Merwede include major dredging companies, oil and gas exploration groups, offshore contractors and government authorities.

IHC Merwede has a staff of approximately 2,200 at its locations in the Netherlands. There are also branches in China, Houston (USA), India, the Middle East, Russia, Singapore and the United Kingdom.

“I am delighted that SEA STEEL is now part of the IHC Merwede Group”, says Govert Hamers, President IHC Merwede. SEA STEEL has been working together with equipment- and hammer suppliers worldwide and will do so in the future.

“SEA STEEL, in conjunction with IHC Hydrohammer and IHC Handling Systems can offer a complete pile driving package allowing clients the best possible options for expedient, accurate and successful offshore operations worldwide.”

Mr Clive Jones adds “we anticipate a continuation of our productive cooperation with clients, suppliers and other relations of both IHC Merwede and SEA STEEL.”

IHC Merwede press release