Reach Subsea ASA's ("Reach") partner MMT Sweden AB ("MMT") has been acquired by Ocean Infinity in a transaction that was made public today. Reach and MMT has a pool cooperation where the risk and profit on certain vessels are shared, as well as a 50/50 ownership in Surveyor AS which owns our two high speed survey ROVs (Surveyor).
The successful pool cooperation between Reach and MMT will continue unchanged, with the only difference being that MMT is now owned by an industrial shareholder with strong ambitions. We will continue to build on the track record we have developed together offering our clients the same great service they have been used to from Reach and MMT.
For further questions, please contact:
Birgitte Wendelbo Johansen, CFO
www.reachsubsea.no