Co Louth engineering solutions provider to the offshore oil and gas industry Suretank has acquired a majority stake in US manufacturer AmGulf Fabrication for an undisclosed amount.
The Louisiana-based company will be rebranded as Suretank USA with immediate effect.
Having acquired a minority shareholding in 2013, Suretank developed “a strong working relationship” with AmGulf offering its full range of DNV 2.7-1 certified offshore tanks and cargo carrying units (CCU’s) from the company’s state of the art facility in Houma, Louisiana.
“In pursuing our long-term strategy to build local in markets worldwide we are continuously looking for companies that help us to achieve this goal,” said John Fitzgerald, Suretank CEO.
“The US is a significant growth market for Suretank and having in-market manufacturing and equipment deployment is extremely important to maintaining customer service excellence.
“We intend developing and building additional specialist products in the USA such as wire-line, well intervention and pumping systems.”
AmGulf Fabrication was established in 2012 by Lawrence Detiveaux and Jason Underwood, who will take up the role of managing director of Suretank USA reporting directly to Fitzgerald.
Aside from the US, Suretank has design and manufacturing facilities in Ireland, Brazil, China, the Netherlands, Poland, Thailand and the UK as well as sales offices in Australia, Malaysia, Nigeria and Norway.
Suretank’s product range includes chemical and acid tanks, helifuel tanks, offshore containers, baskets, mudskips and cryogenic tanks.
Headquartered in Dunleer, Co Louth, it employs around 770 people and has annual revenues of more than US$100m.