Parker Hannifin has acquired Scan Subsea, a Norwegian manufacturer of power and production umbilical cables for subsea installations, as well as mooring lines for floating oil production and exploration units.
The company has a manufacturing site in Tonsberg, Norway with its own deep water quay providing direct ocean access for the large products it manufactures. Additionally, it supplies power transmission cables to the off-shore wind power industry and provides technical services for its products to both industries.
Aside from its manufacturing site, Scan Subsea has headquarters in Oslo, Norway and other locations in Drammen and Stavanger, Norway. The company employs approximately 200 people and has projected sales of approximately $130m this calendar year.
‘With its European focus, Scan Subsea complements our year old acquisition of Cabett Subsea, which is predominantly focused on the Gulf of Mexico,’ said Bob Bond, President – Fluid Connectors Group for Parker. ‘Scan will benefit Parker globally by strengthening our offshore presence on floating platforms in Europe, Asia and the Middle East.’
Closer to home, this month Parker Hannifin also bought the Milton Keynes-based pneumatics manufacturer KV Automation for an undisclosed sum. KV, which makes valves, cylinders and precision electropneumatic control systems, will join Parker’s automation group.