Cal Dive completes acquisition of Fraser Diving
Posted: 16 October 2006
 Send this article
 Print this article
Cal Dive International, Inc said that on 1 August 2006 its wholly-owned subsidiary, Cal Dive Far East has completed the 100% acquisition of Singapore-based Fraser Diving International, one of the largest privately owned independent diving companies in the eastern hemisphere operating in Southeast Asia, Australia and the Middle East.
Included in the assets acquired were Fraser˙s six portable saturation diving systems and 15 surface diving systems and all of the ordinary shares of Fraser˙s subsidiary, Fraser Diving ( Australia ) Pty Ltd, which has been renamed Cal Dive International ( Australia ) Pty Limited.
With offices in Dubai , Singapore , Egypt , Vietnam and Perth , the company specialises in providing manned air, mixed gas and saturation diving services in the fields of underwater construction, inspection and maintenance.
Fully ISO 9001 accredited in Australia , and planning to extend accreditation to other regions, Cal Dive intends to enhance Fraser˙s reputation for the provision of highly qualified and experienced construction diving personnel, as well as for the excellence of its inspection reporting and procedures.
Cal Dive Far East will operate two DSVs initially, DPDSV Eclipse and EDT Protea, with plans to expand the fleet going forward.
The Dubai branch shall continue to operate under the brand name Fraser Diving International until such time as the proper licensing / registration formalities are completed.
Quinn J. Hébert, Cal Dive˙s president and chief executive officer said:´The acquisition of Fraser Diving is a key step in Cal Dive˙s strategy to expand into high-growth international markets by giving us a meaningful presence in Singapore , Australia , Dubai , Egypt and Vietnam .ˇ
Based in Houston, Texas, Cal Dive, as a wholly-owned subsidiary of Helix Energy Solutions Group, Inc. (NYSE:HLX), is a leading provider of traditional manned diving services and dive support vessels for the Gulf of Mexico continental shelf region and U.S. inland waters.
|
