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Ashtead Technology

Oil & Gas

Ashtead increases turnover and profits in “relatively buoyant” 2014/15

Aberdeenshire subsea service company Ashtead Technology has posted increases in profits and turnover for its last full financial year before changing ownership. A week ago, the Westhill-based firm announced a majority stake in the business had been acquired by Arab Petroleum Investments Corporation (Apicorp) and its London-based venture capital partner, Buckthorn, for an undisclosed fee. Ashtead, which employs 75 people in Aberdeen, London, Houston and Singapore, with agents in Abu Dhabi, Perth and Stavanger, said the investment would help the firm expand its geographical reach, with the Middle East being a particular area of interest and focus.

Oil & Gas

Ashtead Technology plays key role in solving WWII mystery ship sinking

When the HMAS Sydney was sunk during WWII by what should have been a weaker German cruiser, all 645 of its crewmen perished, taking the explanation for the disaster to their watery graves. But nearly 70 years on, an Aberdeenshire subsea technology company has played a “key role” in solving the mystery surrounding the sinking of the ship, which lay undiscovered off the western Australian coast until 2008. Ashtead Technology yesterday said it donated equipment to the survey team after being sounded out by international subsea firm DOF Subsea earlier this year.