The company controlled by private equity investor HitecVisionwill be divided into separate entities called Reef Subsea, X-Subsea and Technocean,a statement revealed.
The former will be based in the north east of England andspecialise in subsea cable-laying and be led by current CEO DuncanMacPherson.
Managing director Jason Miller will lead X-Subsea, based inHouston, to focus on dredging and excavation work with operations in the UK,Norway, Singapore and the Middle East.
Technocean Subsea will be based in Bergen, Norway and led bymanaging director Arne Riple,.
It will carry out subsea inspection, maintenance and repair (IMR)and construction work mainly in the North Sea and West Africa.
Reef Subsea was created in 2010 through a joint venture between HitecVision and compatriot Rieber Shipping though the private equity firm has since taken full ownership.
