Engineering firm Altrad Group has surpassed €5.3 billion (£4.5bn) in revenue for the 2023 financial year, an increase of 38% on its 2022 results after two years of "transformative growth".
The Aberdeen-based Sparrows Group has rebranded following the takeover by Altrad that was announced in 2022, the firm will now operate as Altrad Sparrows.
Altrad has announced the award of a multi-million pound deal which will see it manage fabric maintenance for a major operator across its North Sea assets.
The billionaire owner of engineering services group Altrad has been found guilty of corruption charges in relation to his company’s sponsorship of the French national rugby team.
Engineering and maintenance group Sparrows has secured a £50 million contract with a “major UKCS operator” to provide crane management services across its operated assets in the North Sea.
Altrad has secured a multi-million pound contract to support the fabric maintenance of TotalEnergies’ (LON: TTE) offshore assets in the Danish North Sea.
Industrial services giant Altrad has completed its acquisition of Muehlhan’s oil and gas business in Denmark and the UK, with the changeover of 750 North Sea workers.
Industrial services giant Altrad said a significant pipeline of work would see it expand its UK headcount next year, amid a North Sea staff resurgence and plans to continue a run of acquisitions.
Industrial services firm Altrad has landed a multi-million pound contract with Shell for the provision of critical support services in the Southern North Sea.
Industrial services giant Altrad has signed two long-term contracts with a major oil refinery on the east coast of England, worth an estimated £30 million.
A trade union boss has hailed the progress made by the oil and gas industry in its quest to create a new collective deal covering thousands of North Sea workers.
A new deal covering thousands of North Sea workers could include a “rate adjustment mechanism” linking pay with oil and gas prices, a key figure behind the talks said.
Industrial service group Altrad has been chosen to provide construction, hook-up and commissioning work on Premier Oil's Tolmount project in the UK North Sea.