(Alliance News) – Harland & Wolff Group Holdings PLC on Thursday established a new fully-owned subsidiary to be based in the UK's "energy capital", Aberdeen.
The Belfast-based multisite fabrication company operating in the maritime and offshore industry already has sites in Belfast, Arnish, Appledore and Methil.
The company said it was setting up Harland & Wolff (Technologies) Ltd which will operate in conjunction with the company's four delivery centres across the UK whilst working independently and directly with the clients in other shipyards.
One of the main services being provided by HWT will be the in-service support to assets that are already operational and are not in any dry dock.
Richard Davidson has been appointed as managing director of HWT.
The firm explained new technologies within the marine market are advancing at considerable pace and ensuring the company is at the forefront of this as an early adopter of new technologies is essential.
HWT's focus on batteries, propulsion, future fuels and systems integration will facilitate progress towards being a successful leader in these areas and make a meaningful contribution to the UK's net zero targets, it said.
The company said it remains supportive of the UK's net zero targets but it is clear that traditional sources of energy will still have a significant role to play over the next few decades.
With the recent government announcement on a series of new North Sea licensing rounds, and the number of enquiries that the company is addressing for offshore electrification projects, new platform construction projects and in-service support, HWT will be well placed to address a very sizeable business opportunity across these markets.
Chief Executive John Wood said: "HWT's offering will allow assets to be in operation whilst being serviced by our riding crews. Ultimately, this will reduce the time spent by an asset in a dry dock, keep it in continuous operation, and therefore reduce downtime costs, all of which are highly attractive outcomes for our clients."
Shares in Harland & Wolff rose 3.3% to 13.68 pence in London on Thursday.
By Jeremy Cutler, Alliance News reporter
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Harland & Wolff (HARL)