ROMAR International expands business in US with agreement extension worth £945,000
Tuesday, Nov 27, 2012
Aberdeenshire-based oilfield service company ROMAR International has secured a two year representative agreement extension with US-based Deepwater Rental & Supply, valued at £945,000.
The agreement involves the agent promoting ROMAR’s range of Magnogrid and EZ-Clean ditch magnet products within the US, which is a key target market for ROMAR.
ROMAR’s core business is in the provision of magnetic separation products and services for the offshore oil and gas industry globally. The company has developed a range of products and services tailored to suit various demands and applications.
ROMAR entered the agreement with Deepwater Rental & Supply in 2011. Due to the partnership, ROMAR has achieved great success in the US with the Magnogrid and EZ-Clean ditch magnet products. Turnover from Deepwater Rental & Supply for the first year was over £100,000 and expected turnover for this year is expected to more than double to be in excess of nearly £250,000.
The agreement extension was signed at the Deepwater Operations Conference in Houston earlier this month (6-8 November). A selection of ROMAR’s Magnogrid and EZ-Clean ditch magnet product lines were on display at the exhibition.
The Magnogrid and EZ-Clean products are high magnetic strength tools which provide a complete magnetic barrier across the full width and depth of a fluid path and reduce manual handling by the operator. The magnets give increased efficiency of metal collection and reduce the contamination of fluid. Both products are designed and engineered to each specific location, maximising metal particle separation efficiency.
The product is a portable version of the ROMAR swarf handling systems which are used on platforms and rigs worldwide.
ROMAR International commercial director, Robbie Gray said: “ROMAR has experienced impressive turnover from the US region through our partnership with Deepwater Rental & Supply in the past two years. We are keen to continue this working relationship in order to expand our product line in the region and develop our reputation as a reputable supplier.
“Exhibiting at the Deepwater Operations Conference was a good opportunity for us to raise awareness of our product line amongst key players in the industry. The conference was well attended and we have had a number of enquires following our presence at the event.”
ROMAR has continued to increase its staff numbers this year in response to business growth – the company currently has 15 members of staff and plans to expand this by a further five-six in the coming months.
Since 2001 the company has grown in size and currently trades in many oilfield industry provinces including the UK and Norwegian North Sea, West Africa, Gulf of Mexico, SE Asia and South America. Its success is underpinned by its ability to set up strategic partnerships in regions where ROMAR’s products will be well utilised.
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