Norwegian market a key target for subsea optical and electrical company Hydro Group
Global solutions provider of optical and electrical products in the subsea technology industry, Hydro Group, is set to secure £150,000 of projects in Norway. It is also delivering its 3kv electrical connector which is a first for the market in Norway designed specifically for drilling rigs and hazardous areas.
Through Hydro Group’s Norwegian partner based in Oslo, G-Tech Components AS, demand for the firm’s heavy duty electrical connectors has increased. It is forecast that Hydro Group’s turnover will double in Norway during 2008/2009 with various large projects beginning throughout next year.
Stein Goffeng-Nielsen, Hydro Group partner in Norway, said: “With new fields developing in Norway, demand for new technology and innovative products will increase. For British firms to be successful in Norway, it is essential that there is a base in the country to work from and more often than not, quality, delivery and trust are the most important factors for doing business here.
“Hydro Group is building a strong presence in Norway through G-Tech Components AS and the aim is to continue to build on this during 2008 and 2009. Each year we use oil shows such as ONS as a fantastic opportunity to meet potential new clients who can benefit from the range of products we offer.”
With an Aberdeen headquarters and offices in Asia Pacific and Perth Australia, Hydro Group plc employs a total of 70 staff and operates on a global scale, with a portfolio of blue chip clients, major operators and the Ministry of Defence. The group’s turnover for 2008 is £5million with forecasts for this to increase significantly in 2009.
Hydro Group plc, comprising Hydro Bond Engineering and Hydrocable Systems Ltd, was originally formed in 1982 by a team of experienced engineers and is now a major national and international supplier of harsh environment engineered products to the offshore oil and gas, defence, oceanographic, renewable energies, diving and ROV/AUV markets.
