Subsea cabling specialist Tekmar has secured a series of contract wins worth a combined £10m for its cable protection products and deck equipment.
The North East firm, which is considering a takeover offer, told the London Stock Exchange that its Pipeshield International Limited and Subsea Innovation Limited businesses would deliver the contracts, which includes work in the Middle East, and an order for a launch and recovery system.
The Middle East work will be delivered in the first half of this year with products manufactured at Pipeshield's regional supply bases in Damman and Doha. The contracts - worth a combined £8m - include the design, manufacturing and supply of concrete sleepers, concrete mattresses and other equipment.
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Meanwhile the firm will build a launch and recovery system which it will also design. The £2m order is expected to be delivered by December.
Steven Howlett, managing director of Pipeshield, said: "The contracts help consolidate our position in the Middle East and create a basis for further regional expansion supporting our growth strategy. I congratulate the team on securing these projects, which are a testament to our subsea engineering and project management expertise, as well as our local manufacturing and supply chain capability."
Dave Thompson, managing director of Subsea Innovation, said: "We are pleased that Subsea Innovation has been awarded this significant contract for bespoke mission equipment. This contract award further strengthens our position as a leader in the sector and supports the continued growth of our business. We are excited to work on this project and deliver exceptional results for our client."
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