Suretank Announces Strategic Investment in Brazil

DUNLEER, Ireland and CAXIAS DO SUL, Brazil, May 6, 2014 /PRNewswire/ --

Suretank, the world's leading provider of engineered solutions to the offshore oil and gas industry today announced the official launch of Suretank Latin America, based in a state of the art facility in the Southern Brazilian, Rio Grande do Sul State, at city of Caxias do Sul.

     (Photo: http://photos.prnewswire.com/prnh/20140506/685797 )

The new business will house design, engineering, quality, manufacturing and sales & marketing expertise drawing on the extensive experience of Suretank Group in the design and manufacture of DNV certified offshore tanks and CCUs.

Suretank Latin America's vision is to be the leading provider of engineered solutions to clients in the offshore oil and gas industry in Brazil and in Latin America.

Commenting on the announcement, John Fitzgerald, Suretank CEO said; "The offshore market in Brazil continues to grow and expand with strong offshore activity predicted for the coming years. This new development positions us to gear up for the market's projected increase in demand for DNV accredited equipment. The Suretank philosophy is to deliver best in class customer solutions with a focus on safety from locally situated facilities.  This venture allows us to provide exactly that to our customers in Brazil and Latin America."

Suretank has been active in Brazil for the past 24 months, designing and manufacturing offshore equipment for major international oil service and rental companies through a sub-contract agreement with an experienced Brazilian partner. This announcement sees Suretank Group take a majority ownership position in a newly formed business entity with the Brazilian partners.

The new venture will see the transfer of 70 existing highly trained and qualified employees into the new business ensuring seamless service to existing clients.

Suretank Latin America will continue to operate its Rio de Janeiro based sales and marketing office.

Suretank Latin America's local Brazilian base allied to its ownership of the world's largest library of DNV approvals means that the business is uniquely positioned to become Latin America's preferred provider of offshore tanks and CCUs to clients in the offshore oil and gas industry.

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

Issued on behalf of Suretank by KendallSmith 

Notes to editors 

Suretank is an industry-leading specialist in the design and supply of offshore transport containers and a market leader in offshore liquid and cargo storage solutions. It employs approximately 770 people and has revenues of more than $100 million.

Its customer base includes most of the leading service, rental, exploration and production companies in the offshore industry.  The company has been bullish on the international stage, expanding significantly through a well-established and growing network of operating locations situated to provide first class supply and customer service.

Suretank leads the field in terms of quality and boasts more quality accreditations than any other company in the field including PED, CEN & DNV 2.7-1 certifications.  The company's sales team is comprised of qualified engineers, allowing the efficient development of bespoke engineering solutions designed around individual customer needs. Suretank has design and manufacturing facilities in Ireland, UK, The Netherlands, Poland, Thailand and China and Brazil as well as sales offices in USA, Norway, UK, Australia, Nigeria and Brazil.