Thursday, September 06, 2007
ATR makes Baku move
04 September 2007 - Upstream OnLine - Aberdeen-based offshore equipment provider ATR Group said today it has bought Bridon International's wire rope and lifting operations in Baku, Azerbaijan. ATR said it will invest $2 million in the Baku business over the next 12 months. "With Bridon refocusing its business in manufacture rather than distribution, we saw an opportunity to fast-track our plans for the Caspian region with the acquisition of an established business,” ATR director Robert Skidmore said. "This will be our first overseas operation and once we have cut our teeth in the Caspian we will be pressing ahead with plans for other locations which include North Africa, the Middle East and South East Asia," he added. All of the Bridon Baku workforce will transfer to ATR, the company said.