Engineering and fabrication company WEC Group has acquired a 50% stake in Preston-based commercial diving and hyperbaric product manufacturer Submarine Manufacturing & Products (SMP).
Working in the design, manufacture and supply of commercial diving, subsea, and hyperbaric solutions, SMP will benefit from WEC Group’s engineering knowledge and purchasing power to increase competitiveness and boost export prospects.
The addition of SMP to WEC’s ranks will provide benefits to the company thanks to their complex products on offer, including diver decompression chambers, hyperbaric oxygen chambers, breathing air compressors, and commercial diving helmets amongst many others.
Steve Hartley and Wayne Wild, respectively managing director and group commercial director of WEC Group, have joined the board at SMP and will take an active role in the business to enable the new joint venture.
Mr Hartley commented: “SMP and WEC Group have had a longstanding business relationship and there is a very good strategic fit between the two businesses. We are delighted to announce that the two companies have entered into a joint venture arrangement in which WEC Group will bring increased engineering and business expertise to SMP, paving the way to future growth and building on the foundations laid down by SMP over the last thirty years.”
WEC Group www.wec-group.com
