Has Offshore O&G always been the specialty of EB? Trapp When we started 11 years ago, the subsea telecom business was bustling, and we moved into that business with over-exuberance, going from a standing start to nearly £8 million in turnover. Approximately 92% of our business was here. When the telecom industry collapsed, so too almost did EB - going from £8 to £6 to £4 million in turnover over the next three years. The lesson learned was the need to diversify in three different markets, ours being offshore oil and gas, marine renewables and defense. How did you turn it around? Trapp In 2004 we had £4 million in turnover, and it was then that we instituted a five year plan to diversify and build the business. The target turnover for 2008 is £38 million.
Much of the marine industry is short-staffed. What's the situation at EB? Trapp We increased staff by one-third last year, and we need to increase staff by another third this year. There's no doubt that we can bring in more work; the key challenge is taking on more high quality engineers. You were recently bought by IHC Merwede. Can you share some insights on that? Trapp EB can continue its rapid growth, providing long term security for the dynamic staff team with significant benefits for the north east of England, home to a highly talented supply chain. Under the IHC Merwede banner, EB is assured of an exciting, creative and rewarding future. Our team will be strengthened with IHC Merwede board members and we are looking forward to working within the IHC Merwede
EB designed and developed 30m WaterBridge for safer offshore access.
30 MTR
April 2008
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