Undersea purchase for Furness firm

First published in Business

FURNESS-based marine services company James Fisher and Sons has acquired a company which remotely operates vehicles (ROV) in a £2.5m deal.

The Barrow company said the purchase of Dorset firm Subsea Vision added to its marine support services division.

Subsea owns and operates five ROV systems and provides underwater surveys, inspections and construction support to the oil and gas industry, including floating, production, storage and offtake vessels.

It was founded in 2002 and in the year to March 31 posted pre-tax profit of £400,000. Its net assets at that date were £700,000.

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