UK-based underwater technology company JFD announced it has acquired Australian diving and recompression company Cowan Manufacturing.
The acquisition was carried through JFD’s parent company James Fisher and Sons plc.
The acquisition of the Newcastle-based business is a significant step in JFD’s plan to expand its manufacturing base in Australia, the company said adding that Cowan Manufacturing’s capabilities would complement JFD’s existing facilities at Bibra Lake, south of Perth and Kirrawee in Sydney.
Cowan Manufacturing is a family business since 1973 which currently employs 25 staff specialized in the design and manufacture of lifesaving recompression and hyperbaric chambers.
“Our core business has always been to make the world’s best products using Australian steel and aluminium and employing highly-skilled local tradespeople,” said Bob Cowan, managing director of Cowan Manufacturing.
“This is an exciting day for JFD and our staff who can look forward to even more employment opportunities; as the acquisition of Cowan Manufacturing will expand JFD’s capability, resulting in JFD creating more jobs across Australia for Australians,” Toff Idrus, JFD Australia general manager, commented.
“Perth is where it all began for us in Australia in 2003 with the establishment of a base building deep diving saturation systems, and equipping the Royal Australian Navy with a full complement of military diving equipment and systems. In 2009 we first started providing a free-swimming submarine rescue service and escape training facility to the Royal Australian Navy.”
“The transaction means JFD Australia will extend its existing RAN hyperbaric repairer accreditation, and that will include the manufacture of high-tech steel and aluminium equipment such as the submarine rescue vehicles which are so important to our business,” Idrus said.