Global Marine Systems, Triasmitra Agree to Form Joint Venture

Subsea cable installation companies Global Marine Systems, Ltd. and PT Ketrosden Triasmitra have announced their agreement to form a joint venture to provide subsea cable engineering and installation services to the telecommunications and oil & gas industries within the Indonesian market.

The partnership between the two companies will see the installation of more than 600km of cable this year as the companies collaborate on the Luwuk-Tutuyan and Jambi-Batam submarine cable projects, and another 2000km projected over 2014.

The joint venture will address the Indonesian market and will own and operate cabotage compliant vessels.

In addition, the joint venture will provide feasibility studies, marine survey, shallow and deep water installation and burial solutions.

“Global Marine, with its unparalleled history in the provision of services to the submarine cable industry, is the ideal partner to expand our expertise and quality of service for our customers in Indonesia,” stated Ketut Romadhi, Triasmitra’s Founder and Chief Executive Officer.

“This partnership will position us well to further develop our telecommunications network and build upon our successes to date, while at the same our teams will have the benefit of learning from Global Marine’s long-standing experience in cable installation,” added Septono Karyadi, Triasmitra’s Managing Director.

“This is an important agreement for Global Marine,” stated Ian Douglas, Global Marine’s Chief Executive Officer. “We have worked closely with Triasmitra for many years and together have deployed a significant amount of cable in Indonesian waters. The joint venture represents each organization’s strong commitment to provide customers with a single source for quality subsea engineering and installation solutions.”

“After many years of collaboration on subsea installation and cable repair work, we are delighted to formalize our relationship with this agreement. This partnership supports Global Marine’s long history of success in providing subsea cable services to our global customer base, while simultaneously supporting Triasmitra’s continued growth and success in the Indonesian market,” added Global Marine’s Corporate Development Director, Mike Constable.

About Global Marine Systems

Global Marine Systems, Ltd. is a leading provider of engineering and underwater services, responding to the subsea cable installation, maintenance and burial requirements of our customers around the world. With a fleet of vessels and specialized subsea trenching and burial equipment, we bring a 160 year legacy in deep and shallow water cable operations. Global Marine offers cost effective solutions with consistently high service standards for our customers.

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Press Release, September 19, 2013