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Export deal for Forum Energy Technologies (UK) Ltd
9:56am Wednesday 12th December 2012 in Business news
A RYEDALE technology company, which builds remotely operated submarines for underwater work for the oil and gas industry, has secured a new export deal.
Forum Energy Technologies (UK) Ltd (FET), which owns Kirkbymoorside-based Perry Slingsby Systems, won the contract to supply six of its remotely-operated vehicles to Norwegian company DOF Subsea AS.
The deal was made possible after UK Export Finance (UKEF), the Government’s export credit agency, guaranteed a £20 million loan that DOF Subsea had arranged with HSBC, enabling the company to go ahead with the purchase.