Cosalt clinches £3m deal
MARINE safety group Cosalt has won a £3m deal to supply all the tools and lifting equipment needed by an engineering company’s North Sea operations.
The contract has been awarded by Aker Solutions’ subsidiary Aker Offshore Partner and is worth £1m a year to Cosalt over the next three years
The Grimsby-based group specialises in the provision of critical safety equipment for companies operating in the oil and gas offshore sector.
The deal with Aker Offshore Partner has an option to be extended for an additional two years.
Mark Lejman, chief executive of Cosalt, said: “We are delighted that Aker Solutions has renewed its agreement with Cosalt Offshore.
“This is the latest in a series of multi-million pound, long-term deals that we have secured and underpins our ongoing growth strategy in the North Sea.”
Earlier this month, Cosalt saw its profits fall sharply during a year in which its customers reined in spending.
During the 53 weeks to November 1, 2009, turnover rose 2.6% to £107.8m but pre-tax profits fell by 24% to £5.49m.
