ATR, the leading energy equipment services business, has signed a UKCS partnership with industrial wire and rope product manufacturing giant WireCo WorldGroup, opening up major market expansion opportunities.
Under the deal, ATR will have the ability to provide the UKCS oil and gas market with three of WireCo's key product lines and expects to see turnover rise by £5million during the course of the agreement.
WireCo has a long history as a major supplier to the global energy sector with their Union branded drilling lines and operates as a market leader in the mining, fishing, construction and industrial sectors.
Its global group includes crane rope producer CASAR, based in Germany; the leading wire rope producer in Portugal, Oliveira; and the largest Polish wire rope manufacturer, Drumet.
Keith Moorhouse, chief executive of ATR, says: "This is an ideal alliance for us, given our strong position in the lifting industry across the energy sector throughout the North Sea and Caspian regions.
"Significant demand across the energy sector has delivered a major growth opportunity for us through this partnership with WireCo, and as a result, we have made an initial investment of close to £500,000 in stock and specialist resources to ensure we are able to meet our client’s demands. We fully expect to see a rise in turnover in excess of £5million over the term of this agreement.
"WireCo's products and brands are renowned as the best in the industry and, in tandem with our position as the leading provider of lifting services, including wire rope sling manufacturing and certification, across the North Sea and Caspian, we look forward to growing this part of our business by meeting our clients' expectations."
John Josendale, senior vice president and global oilfield market director for WireCo, says: "We recognize ATR as a key player in this market and look forward to providing our full support to this partnership. Together, we will provide great products and service to deliver results for their customers."
ATR specialises in the delivery of equipment solutions, including power generation equipment, lifting services, inspection and certification to the on- and offshore oil and gas, subsea and renewables sectors.
ATR secured more than £20 million in investment from NBGI Private Equity and Clydesdale Bank in early March, as it pursues a global expansion plan. The company completed its first acquisition, of Underwater Engineering Services, a specialist supplier of marine and subsea support equipment to the diving, ROV and survey sectors of the global offshore industry, in June 2012.