Cutting Underwater Technologies (CUT UK), a specialist cutting services provider to the decommissioning and abandonment industry, has invested £3.25million in a new headquarters in Aberdeen and anticipates increasing turnover and staff numbers by the end of the year.
The CUT Group of companies, including CUT UK, was formed 10 years ago by Italian parent Tecnospamec. The companies provide the patented Tecnospamec diamond wire cutting systems for clients carrying out decommissioning projects in the North Sea and worldwide.
In addition to the standard range of machine sizes, CUT can offer custom designed, built and tested cutting machines to meet any specific client requirements. The machines can operate at any depth compatible with a Workclass ROV and CUT has successfully carried out work to a depth of approx 2,500metres.
The diamond wire technology can cut through any materials including jacket legs, subsea pipelines, flexible lines, multistring conductors, mono-piles and massive anchor chains, efficiently, safely and with negligible or no impact on the environment.
As well as carrying out work for the oil and gas industry, CUT has completed projects in the onshore refining market and also in nuclear decommissioning. Major clients include Acergy, Aker, Heerema, Saipem/Sonsub, Subsea 7 and Technip.
The new 1.3acre site at Claymore Drive in Aberdeen Science and Energy Park at the Bridge of Don contains 10,000 sq ft of workshops, R&D and test facilities, including a trial and test tank, and 7,000 sq ft of office space over two floors.
Previously, CUT UK operated from two separate locations within Kirkhill Industrial Estate and the new location near the Aberdeen Exhibition and Conference Centre can accommodate the whole company with capacity for further growth in the future.
CUT UK General Manager Dino Vallarino said: “We wanted to create a centre of excellence for our operations and supporting R&D work where clients could visit us easily. It is fantastic to have such outstanding test facilities, workshop and office space all under the same roof. It is difficult to find suitable premises around the Aberdeen area and our new home is an ideal location for us.’’
He added: “There is increasing demand for our services and we expect that to continue as the level of decommissioning work around the world takes off. Over the next two decades companies will start to decommission more and more structures in the North Sea, as well as other production centres, as their infrastructure ages.
“Our new HQ will play a major role in helping us respond to opportunities both in the UK and overseas and we are confident of the fact that our products and services are cost-effective, efficient and environmentally-friendly, all of which will help keep CUT to the fore in securing future business.’’
The UK company handles CUT’s work in Africa, South America, the Middle East and Mediterranean as well as the North Sea, with the international work accounting for some 40% of its business.
CUT UK was responsible for £5million of the group’s £9million turnover for 2008 and is on track to achieve more than 25% growth for 2009. Employee numbers have increased from 18 a year and a half ago to 27 at present and are expected to rise again to around 35 by the end of 2009.
CUT also has operational bases in the US, Norway, Singapore and Brazil, serving the needs of regional operators. Further expansion is expected into the Middle East.