Tuesday, November 7, 2017 — GeoSea, the geotechnical and offshore solutions specialist of the DEME Group, announces it has acquired the majority of the shares (72,5 %) of G-tec, the Liege (Belgium) based contractor specialised in offshore geotechnical and geological site investigations, marine geophysical and environmental surveys and deepsea engineering services. The other shares are owned by SRIW (Sociéte Régionale d’Investissement de Wallonie).
G-tec was founded on an academic background in 1993, and currently employs over 40 highly skilled staff. The company also owns the unique offshore geotechnical investigation vessel ‘Omalius’.
The company has a consolidated turnover of around 20 mio € and operates in the markets of offshore renewables, oil & gas, civil works and offshore mining. The highly specialized activities and know-how of G-tec represent a strategic fit, enabling the DEME-group to further reinforce its fully integrated services to the offshore renewables, oil & gas, civil engineering and offshore mining market. Geotechnical investigation from the GeoSea jack-up vessels is already part of the current offering. Furthermore, some years ago DEME took over from G-tec a concession in the Pacific Ocean for the exploration of manganese nodules.
GeoSea does not expect the transaction to have immediate large effects on its results.
ABOUT DEME GROUP
The Belgian dredging, environmental and marine engineering group DEME is an international market leader for complex marine engineering works.
Building on more than 140 years of experience and know-how, DEME has organically moved into several related sectors, such as the financing of marine engineering and environmental projects, executing complex EPC related marine engineering projects including civil engineering works, the development and construction of renewable energy projects, providing services for the oil, gas and energy sector, the decontaminating and recycling of polluted soils and silts, the harvesting of marine resources, etc.
Thanks to an integrated company structure, DEME strongly emerges as a ‘global solutions provider’ which offers its clients overall solutions. DEME has the most modern, high-tech and versatile fleet.
DEME Group has 4,600 employees worldwide and achieved a turnover of 1.97 billion euros in 2016.
