Fugro Cuts More Jobs, Shifts Focus to Different Business Segments
."We expect ongoing impacts of these market uncertainties into the second quarter. Our immediate priority is the continued implementation of measures to safeguard profitability and cash flow," group CEO Mark Heine said in a statement.Fugro, which provides geotechnical, survey, subsea and geosciences services, reported first-quarter earnings growth of 0.2% before interest, taxes (EBIT) margin, while analysts had expected 5.8%, according to a company-compiled consensus prior to the profit warning.The group, however, maintained its annual EBIT margin target of 11% to 15%, as it cuts costs and redeploys
Fugro Cuts Jobs and Scales Back US Operations
firm Fugro on Tuesday said it started reducing its U.S. workforce and scaling back operations there after warning its sales and earnings would miss earlier forecasts because of volatile markets and lack of new U.S offshore wind projects.The company, which provides geotechnical, survey, subsea and geosciences services, said it has already divested assets and cut more than 100 jobs in the United States because of deteriorating market environment, group CEO Mark Heine told reporters."The shift in the U.S. political landscape has led to a pause in new offshore wind projects. Furthermore, the highly volatile
Venterra Acquires Subsea Energy Services Provider Oceanscan
Venterra gives us a bigger platform from which to grow faster and across an even wider range of offshore wind markets. Combining our specialist equipment and geotechnical experience with the expertise that exists within Venterra means we will be able to offer an even more robust set of survey and geosciences services with greater international reach,” added Derek Donaldson, CEO of Oceanscan
Wopschall Named Director at Pioneer Consulting
;s responsibilities will also include adding to Pioneer Consulting’s existing global market study capability. Wopschall brings 10 years of undersea cable experience to Pioneer Consulting from his previous employer specializing in offshore geotechnical analysis, marine survey and geosciences services. During that time, he helped to develop international business for cable surveys and grow a global marine advisory consultancy. He holds a BSc in Engineering Geology from the University of California, Santa Barbara and a Professional Certificate in Business Development from the University
Boskalis Scales Back Holding in Fugro
Royal Boskalis Westminster N.V. announces that it has reduced its holding in Fugro N.V., an integrator of geotechnical, survey, subsea and geosciences services. Boskalis’ holding in Fugro now stands at 24.9 percent.
Fugro to Install Cables for Rampion Wind Farm
Geotechnical, survey, subsea and geosciences services firm Fugro informs it has secured a contract for the installation and burial of array cables at the Rampion Offshore Wind Farm being built in the English Channel, 13 kilometers off the Sussex coast, by E.ON alongside partners, the UK Green Investment Bank plc. The contract will see Fugro lay and bury the cables with its construction and installation vessels Fugro Symphony and Fugro Saltire using one of its two Q1400 trenching systems to bury the cables. The array cables will be pulled in and laid between the wind turbines and the offshore
February 2025
