The IKM Group announced Friday that IKM Testing has entered into a purchase agreement to acquire Oceaneering’s Norwegian onsite machining and cutting business.

Onsite machining includes flange facing, pipe cutting and beveling, line and hole boring and plane and groove milling. The topside cutting services include abrasive water jet cutting, diamond wire cutting and mechanical cutting. In addition, the department performs composite repairs. IKM will retain Oceaneering’s employees, the technology, contracts and a comprehensive equipment fleet.

“This acquisition is in line with our strategy and will strengthen IKM Testing’s position considerably within onsite machining and cutting. We will also add on new technology expertise within composite repair. This fits well with IKM Testing as a complete specialist supplier within completion, maintenance and decommissioning,” Vidar Haugland, V.P. of IKM Testing Norway, said.

Source: www.worldoil.com

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