Reef Subsea Acquires Dredging and Excavation Specialist Vako
15 June 2012
Reef Subsea AS in Norway says one of its Norwegian subsidiaries, Scanmudring AS, has acquired Norwegian company Vako AS.
Scanmudring previously owned 38 per cent of Vako and bought the remaining 62 per cent for full ownership.
Vako will be integrated into Scanmudring-Rotech Subsea, a group of companies that have merged since Reef Subsea acquired Rotech Subsea in November 2011.
Vako specialises in the conception, production and installation of ejectors that are mounted on seabed dredging and excavation systems.
Reef Subsea's Chief Operating Officer Tim Sheehan, said: "We are very pleased to secure the Vako ejector technology within our portfolio. Vako has been familiar with our teams and participated in the improvement of our seabed dredging systems over the recent years.”
Niels-Henrik Brodtkorb, Managing Director of Scanmudring-Rotech Subsea added: "While Vako is a small company, they have been a strong partner to us the last 10 years.
"hey have developed several kinds of ejectors for all our dredging and excavation needs ranging from the Scanmachines to the ScanROVdredges. We look forward to further developing this technology."