Bandak Group positioning itself in the Asian subsea market
Bandak Group AS has agreed to purchase 100% of the shares in LHM Malaysia Sdn Bhd. Expected closing will be August 1, 2011. The Malaysian company, located in Kuala Lumpur, was established in 2008 and will change name to Bandak Malaysia Sdn Bhd.
Main supplier for the subsea market
Based on high competence and capability within machining, fabrication, assembly and testing, Bandak Malaysia Sdn Bhd will deliver components and multidiscipline mechanical solutions for the subsea market. Bandak Malaysia Sdn Bhd will develop its position as a preferred supplier of systems to all the main OEM-companies in the region, i.e. FMC Technologies, Aker Solutions, GE Oil & Gas, Technip and Cameron. Bandak Malaysia Sdn Bhd is certified in accordance with ISO 9001:2008 and OHAS 18001:2007.
Bandak Malaysia Sdn Bhd has 20 employees, and there are plans for a considerable growth. The company has 2200 square metres with modern facilities for manufacturing, and state-of-the-art production equipment. In-house capacity is CNC machining and clad welding. Bandak Malaysia Sdn Bhd will be part of the division “Offshore Systems” within the Bandak Group, and will be managed by Joar Ajer.
Ambitious Plans for the Future
“Bandak Group has an ambitious growth strategy aiming for a 3-4 times growth in turnover over the next five to seven years. The acquisition of Bandak Malaysia Sdn Bhd gives us a strong position in one of the most exciting growth areas within the global subsea field, and in an area where all the main subsea players are located. This makes the acquisition to an essential part our strategy” says CEO Bjarne Moursund.