This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Forum Energy Technologies Announces The Sale Of Two Sub-Atlantic(TM) ROVs To IKM Subsea

HOUSTON, Oct. 19, 2012 (GLOBE NEWSWIRE) -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that IKM Subsea recently added two Forum Sub-Atlantic Remote Operated Vehicles (ROVs) to their existing fleet. IKM Subsea plans to deploy immediately Sub-Atlantic Mohican and Comanche vessels in the North Sea and Singapore respectively. This recent addition brings the total number of ROVs deployed by IKM Subsea to fourteen.

"We recently won a five year frame agreement with Statoil, and we intend to continue our strong growth both in the Norwegian and International market," says IKM Subsea Managing Director Ben Pollard. "The Sub-Atlantic Comanche vehicle is already contracted to a major offshore contractor for a project in Southeast Asia, where it will work together with our other IKM Subsea Work Class ROVs."

IKM Subsea Business Development Manager, Mahesh Govindan added, "Sub-Atlantic's technical and spares support capability in Singapore was one of the key factors in our decision to purchase the vehicles. Further to that, the short delivery date enabled us to work well within the time-line for the project. We see the Sub-Atlantic Mohican and Comanche models as very versatile ROVs for Drill Support and Inspection programs, which further enhances our ability to provide a wider range of services to our clientele."

About Forum Subsea Technologies

Forum Subsea Technologies is a product line of Forum Energy Technologies, Inc. Their ROV product line includes Sub-Atlantic™ electric observation class ROVs and Perry™ hydraulic work-class vehicles used for inspection, survey and deep-water construction, as well as other remote intervention technologies and services. Forum Subsea Technologies is positioned to support its customers through a global sales team and a worldwide network of distributors and service centers.

About Forum Energy Technologies

Forum Energy Technologies Inc., headquartered in Houston, Texas, is a global provider of manufactured technologies and applied products to the energy industry. With approximately 3,200 employees located throughout the world, Forum is well positioned to provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling and production sectors of the oil and gas industry. For more information, please visit www.f-e-t.com

CONTACT: Donna Smith - Director of Marketing & Communications
         281.949.2514
         donna.smith@f-e-t.com

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs