Suretank Announces Major Investment in US Company

DUNLEER, Ireland and HOUMA, Louisiana, February 20, 2015 /PRNewswire/ --

Suretank, the world's leading provider of engineered solutions to the offshore oil and gas industry, today announced that it is has acquired a majority ownership stake in Louisiana based manufacturer AmGulf Fabrication, LLC. The company will be rebranded as Suretank USA with immediate effect.

Having acquired a minority shareholding in 2013, Suretank has developed a strong working relationship with AmGulf offering its full range of DNV 2.7-1 certified offshore tanks and cargo carrying units (CCU's) from the company's state of the art facility in Houma, Louisiana.

John Fitzgerald, Suretank CEO, said: "In pursuing our long-term strategy to build local in markets worldwide we are continuously looking for companies that help us to achieve this goal.

"The US is a significant growth market for Suretank and having in-market manufacturing and equipment deployment is extremely important to maintaining customer service excellence."

"We are confident that we have found the right company with AmGulf Fabrication and we are excited about the prospects that taking our investment in this business to the next level will bring. Furthermore we intend developing and building additional specialist products in the USA such as wire-line, well intervention and pumping systems," John continued.

AmGulf Fabrication was established in 2012 by Messrs Lawrence Detiveaux and Jason Underwood.

Commenting on the investment Mr Lawrence Detiveaux, Chairman at Suretank USA, said: "This is a great opportunity for the business, our employees and our customer base. The company was set up on the business principles of Suretank so we are already closely aligned with Suretank's business ethos. We have established a strong reputation for delivering high quality products and custom engineering solutions and the business continues to go from strength to strength. We are excited that Suretank recognises the potential we have to offer them in the US market and are looking forward to the future."

Going forward Mr Jason Underwood takes up the role of Managing Director, Suretank USA and will be responsible for the day to day operations of the business reporting directly to John Fitzgerald.

Suretank is a global leader in the supply of tanks and CCUs (Cargo Carrying Units) to the offshore oil and gas industry. The company has design and manufacturing facilities in Ireland, Brazil, China, the Netherlands, Poland, Thailand, UK and USA as well as sales offices in Australia, Malaysia, Nigeria and Norway.

Suretank's product range includes chemical and acid tanks, helifuel tanks, offshore containers, baskets, mudskips and cryogenic tanks. Suretank's customer base includes most of the leading service, rental, exploration and production companies in the offshore industry. Suretank products are found worldwide, including North Sea, West Africa, Gulf of Mexico, Brazil, Canada, Caspian, Sakhalin, India, Australia, Middle East and the Far East.

For more information, visit http://www.suretank.com

SOURCE Suretank