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Press release – Ulsteinvik/Stavanger, 1 November 2011

Ulmatec has reached an agreement of the acquisition of Stavanger-based Cetix Group AS, a technology group with long international experience in the oil and gas industry. It is a holding company with subsidiaries in Stavanger, UK and Lithuania.

“This acquisition strengthens the range of services and capacity offered by the companies to the energy and offshore industries,” says Cetix chief executive Arne Sørbø.

“Our organisations already know each other well, so this is a natural step for us. In particular, we’ve had a fruitful collaboration with Ulmatec Stromek.

“This has covered LARS™ systems for handling remotely operated vehicles (ROVs), where we’ve delivered electrical winches which compensate for wave motion.

“With more and more customers wanting to deal with system suppliers, our two companies are a good fit. We complement each other well geographically in Norway, and together we’ll be better positioned to penetrate the international marine and offshore market.”

Ulmatec has a long-term and industrial strategy. It’s philosophy is to invest in and develop industrial jobs and local expertise in order to reach out to an international marine market.
“With the acquisition of Cetix, we want jointly to develop a strong marine grouping with Norwegian ownership which offers quality products and the best service in the market,” says Stig Ulstein, group chief executive of Ulmatec.

Cetix represents a technology-driven engineering team which has been an important partner for Ulmatec over a number of years. Mr Ulstein says the collaboration over high-performance electric winches will now become much closer.
“We see that Cetix complements us in more areas than LARS™ systems,” he says. “Cetix makes control systems for wireline operations in the subsea industry, and control and safety-critical systems for the whole energy sector.
“This acquisition will also strengthen our expertise and capacity for engineering, project management, electrical engineering and control systems.”

Better position
Ulmatec’s deliveries include the LARS™ handling system for ROVs, as well as tower and logistics systems for deck use in the oil and gas industry. In addition comes a focus on technology for improved oil recovery (IOR).
“Together, we’ll be able to secure an even better position in the field of handling equipment on deck for the offshore sector, as well as in subsea technology,” says Mr Ulstein.

“We’re solution-oriented with a concentration on efficient, safe, simple and robust technological solutions,” he adds. “We offer functional and specialised solutions based on customer needs.
“With Cetix as part of our family, we’re taking several additional steps towards our vision of ensuring that our contribution makes a difference to the customer.”

Cetix in brief
Cetix Group AS is a holding company with the following subsidiaries: Cetix AS at Stavanger in Norway, Cetix Ltd at Rotherham in the UK, and Cetix UAB in Lithuania.

Cetix AS is a specialist in providing solutions for ROV launch and recovery system, active heave compensated winches, BOP and well control units and choke control systems. 
To meet the latest challenges in a dynamic world of oil and gas, this company has developed new products and solutions which meet demands for safer operation, faster heave compensation and improved control. 
Highly skilled integrated in-house engineering and project teams, combined with professional project management, ensure the success of every project.

Cetix Ltd specialises in control and safety critical systems. It is an independent systems integrator, providing mission-critical integrated control and management solutions for a range of industries. 
The company’s core business is centred on serving the energy industries with a specialist capability for emergency shutdown systems as well as for fire and gas and protection systems.

Cetix UAB is a production company being established in Lithuania, and is currently considering potential sites and resources.

Ulmatec in brief
Ulmatec is an abbreviation for Ulstein Marine Technology AS. This company can trace its history back to 1917 and to Ulstein Mek Verksted, the origin of the Ulstein group. After 1999, a number of new marine businesses flourished following the acquisition of Ulstein by Vickers and Rolls-Royce. One of these was Ulmatec. Established in 2000, it is now the parent of a group of companies delivering marine technology and services worldwide.

For more information, please contact:

Stig Ulstein
Ulstein Marine Technology AS 
Tel. +47 905 42 084

Arne Sørbø
Chief executive
Cetix Group AS
Tel. +47 916 40 277

Jon Åge Eidem
Sales- and marketing director
Ulstein Marine Technology AS
Tel. +47 909 60 477