Teledyne Technologies has acquired Cormon, the Lancing, West Sussex-based manufacturer of subsea and surface sand and corrosion sensors, as well as flow-integrity monitoring systems that are used in oil- and gas-production systems.
Subsea sensors and flow-integrity monitoring systems are designed to accelerate hydrocarbon production, reduce operating costs and extend asset life for oil and gas operators and processors.
Cormon’s sand sensors monitor the erosive effects of solids in production flows, while its subsea flow-through systems, which are fitted into flowlines, provide detailed corrosivity profiling and corrosion measurement.
Given more remote reservoirs, deeper water and a greater number of challenging wells, demand for subsea sensors is expected to increase due to prohibitive intervention costs, longer flowline length and hotter, higher pressure environments.
Cormon had sales of £6.8m for its fiscal year ended 31 March 2008. The acquired business will operate under the name Teledyne Cormon.
Teledyne Technologies’ operations are primarily located in the US, the UK and Mexico.
Terms of the transaction were not disclosed.