Tekmar Group plc (LON:TGP), a leading provider of technology and services for the global offshore energy markets, has confirmed that further to the announcement on 24 June 2024, Richard Turner today assumes the role of Tekmar Group’s Chief Executive Officer and Alasdair MacDonald transitions to the role of Executive Director. Richard is also appointed to the Board as a director of the Company with effect from today.
Tekmar Group appoints Richard Turner as CEO
- Written by: Amilia Stone
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Tekmar Group plc (AIM: TGP) has entered into an exclusive framework agreement with Jan De Nul to supply its 10th Generation Cable Protection System for projects under TenneT’s 2GW Programme in Germany.
Tekmar Group has won a $1.5 million contract with an existing EPC customer to supply engineered scour protection solutions and specialised installation equipment.
Tekmar Group has been awarded a contract worth more than US$10 million by a leading international EPC contractor for a major offshore energy project in the United Arab Emirates.
Tekmar Group has reported delays in contract awards, with some revenue now expected to move into FY2026. The company anticipates achieving adjusted EBITDA break-even for FY2025, reflecting improved second-half trading.
Tekmar Group has secured two offshore grouting contracts in Qatar worth around US$1.6 million. The projects, awarded by existing customers, involve pipeline support remediation using ROV-deployed grout bag technology and are scheduled for completion by October 2025.
Tekmar Group has announced the appointment of Phil Lanigan as Chief Financial Officer and Executive Director, subject to regulatory due diligence. Lanigan, formerly Group CFO at CRC Evans, brings extensive experience in business transformation, growth, and M&A.
