Reef Subsea Power & Umbilical Sets Big Goals (UK)

Reef Subsea Power & Umbilical, a subsidiary of Reef Subsea Group, has set ambitious goals for the next couple of years, targeting a GBP 80-100 million turnover.

This is mainly driven by its recent big success in working on offshore wind farms. Namely, Reef Subsea Power & Umbilical signed a contract for the Gwynt y Môr offshore wind farm.

The business was established a year ago in Stockton, where it currently employs 40 people and plans to recruit 20 more. This year, the company won 12 contracts.

Also, it has launched a new jet trencher machine, which can operate in water depths of up to 2,000m.

Daryl Lynch, managing director of the Stockton business proudly says for The Journal online news: “It allows us to move into oil and gas as well renewables and also target the European sectors.

“It is part of the strategy of growing the organisation.”

[mappress]

Offshore WIND staff, October 12, 2012; Image: Reef Subsea