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Acquisition Leads to Strategic Alliance

Hydrasun, Europe's leading provider of fluid connectors, hoses, fittings and process control instrumentation products and associated services has purchased the ATR Hydraulics business in Aberdeen and Baku. ATR Hydraulics was one of five separate companies in the ATR Group supplying a range of hydraulic products as well as inspection, testing and maintenance of hoses and fittings.

The deal paves the way for a strategic alliance between the two companies which will provide customers with more choice and an enhanced range of services and capabilities regarding hydraulics, fluid transfer systems and tool and equipment rental services. All 16 members of staff at ATR Hydraulics will transfer to Hydrasun.

Robert Skidmore, director of the ATR Group said: "ATR Group's core business is the rental of specialised tools and equipment for the offshore oil and gas industry maintenance and operations market.

"The hydraulics business has not been an ideal fit with our strategy of focussing on rental based services to offshore contractors for sometime and we are delighted to have entered into a deal with Hydrasun which safe-guards the long-term future of the workforce and provides a more focused platform for the growth of this hydraulics business. This alliance also allows us to continue and grow those rental contracts and customers that require an additional hydraulics service with the confidence that we are partnering with the market leader in this field."

Hydrasun's chief executive officer, Bob Drummond added: "We are delighted to have concluded this acquisition with ATR Group and are looking forward to welcoming the ATR Hydraulics staff into the company and to continuing to provide the highest standards of services, safety and quality to all of our customers. This acquisition demonstrates our continued commitment to servicing the Aberdeen and North Sea markets as we also continue to grow and develop our international operations."