Bright future for subsea specialist

Maritime Developments is on track to increase 2014 turnover by 110%.

The company, which has operations in Aberdeen and Peterhead, said planning, continued product quality, international growth and its in-house developed innovations had helped the business exceed expectations.

Derek Smith, chief executive officer at Maritime Developments, said: “We invested substantially in the business 18 months ago by expanding our site and capability in both our Aberdeen and Peterhead operations. It meant we handled our growth proactively rather than reactively.

“Additionally, international orders have taken off. Three years ago our exports were less than six figures, now it’s seven figures. Everyone at Maritime Developments has worked extremely hard to develop this side of the business.

“Finally, we looked at how products can be developed and improved. The new Maritime Developments tensioner has been well received by the market due to its enhanced adaptability and safety benefits.

“We expect the tensioner, as part of our overall vertical lay system package, to be a key factor in driving the business forward both in the UK and internationally in 2014 and beyond.