JFD and Wuhu Ink Joint Venture Deal in China

James Fisher and Sons’ subsidiary JFD has expanded into the Chinese market through the signing of a joint venture with Wuhu Diving Equipment Factory.

Wuhu Diving Equipment Factory is a subsidiary of Shanghai Salvage Company (SSC). SCC recently awarded a £35-million contract to JFD to manufacture a 24-man saturation diving system capable of diving to depths of 500 meters.

The long-term joint venture agreement brings the two companies together as Wuhu Divex Diving Systems Limited and is dedicated to the manufacture of diving systems for the China market.

JFD managing director, Giovanni Corbetta, said: “We are thrilled to have partnered with a successful and experienced company such as Wuhu Diving Equipment Factory. This partnership will allow access to greater resources in China providing not just an economic benefit to the company but a stronger portfolio and capability. We are very much looking forward to operating as Wuhu Divex Diving Systems Limited within the Chinese sector.”

JFD was created in 2014 through the merger of James Fisher Defence and Divex. In 2015 JFD acquired the National Hyperbaric Centre, and in 2016 LEXMAR was added to further boost the company’s services portfolio.