Unique Maritime Group acquires majority share of Hydra Marine

Hydra Marine, Unique System FZE and Unique System LLC (USA) as part of Unique Maritime Group have jointly been awarded the supply and manufacture of various diving systems orders, with a total value in excess of US$ 50 million.

Harry Gandhi, Unique Maritime Group's Chief Executive Officer, stated, "With the addition of Hydra Marine to our existing capacity in this service line, we will be able to provide even greater value to our clients. As part of our involvement, Unique Maritime Group has assisted in relocating Hydra Marine to a new location in the Cape Town business district, with an expansive capability and manufacturing floor space in excess of 7000 sq meters. This will significantly enhance the current services and provide the opportunity for further extending the facilities. This acquisition will aid in strengthening our engineering and manufacturing capabilities and underlines our continuing commitment to our client base."

Unique Maritime Group and Unique System FZE is a leading supplier of marine, surveying and diving equipment for offshore and onshore operations, servicing the marine sector, oil and natural gas industry in the Gulf region. Through established joint ventures agreements, Unique System also has significant capabilities in the Indian subcontinent and Southeast Asia region, together with the already established New Iberia facility in the United States. The company has built a reputation and reliability for consistent performance and added value to clients throughout the global arena and has established a strong brand presence in the market place.

Meanwhile, Hydra Marine is the leading manufacturer and supplier of marine and diving equipment to the Southern and West African Continent. The product and service range includes design and manufacture of air, mixed gas & saturation diving equipment, marine winches, certified man-rider winches and specialized sub sea rigging equipment. Hydra Marine provides technology management, mechanical design and project management services.

Mike Jessop, the Managing Director of Hydra Marine PTY Ltd stated, "We are very excited about this development and it will form the basis of our continuing growth. We are very much looking forward to further enhancing our already established working relationship, as part of the Unique Maritime Group."