Nemo Engineering of Norway has established an immediate presence in the burgeoning subsea oil and gas market in Australia with its purchase of local specialised services provider Land & Marine Technology Systems (LMTS) based in Perth, Western Australia
Nemo Engineering Managing Director, Håkon Strømberg, says this is an exciting time. Nemo and this acquisition represents a significant opportunity and is part of the strategic plan to increase Nemo’s broader international presence and penetration into the global
subsea market. Australia is an ideal base from which to service the Asia Pacific region where more than half of the world’s population live and the demand for energy is set to increase substantially. The acquisition of LMTS will immediately accelerate the scale and geographic spread of Nemo’s four business areas; Structures and Systems, Subsea System Components, Special Solutions and Pipeline Engineering.
Nemo is a leading supplier in the development and manufacture of products for subsea pipeline systems. The company plays a leading role in a number of subsea developments both in the North Sea, and internationally. The company’s headquarters are located at Lysaker close to Oslo, and accommodates the administration staff and technical personnel. Nemo also operate their own mechanical services and manufacturing company called Haatech, specialising in fabrication of products to the subsea market.
Nemo was established in 1989 and has shown a stable growth rate during its development to date. The 2008 combined revenue for Nemo and Haatech was 280M NOK (AUD $55M). Nemo envisages strong and sustained growth in the subsea market in the coming years and have every confidence in the company’s future expansion. With a similar focus to Nemo, LMTS delivers engineering services and products to the oil and gas sector along with associated offshore project management capabilities. LMTS offices are centrally located in Perth within close proximity to many of the offshore client base. The company will shortly change its name to Nemo Offshore Pty Ltd.
The LMTS management team and the company’s staff are looking forward to the opportunity to develop the business both within Australia and the Asia Pacific region, and to bring the Nemo range of subsea products and technical expertise to the local industry.