Type Naamloze vennootschap Founded 1962 Revenue 2.36 billion EUR (2015) | Traded as Euronext: FUR Headquarters Leidschendam, Netherlands | |
Industry Energy, geomatics, engineering Key people Paul van Riel (Chairman of the Board of Management/CEO)
Harrie L.J. Noy (Chairman of the supervisory board) Products Geotechnical, geomatics, surveying, subsea and geoscience services Stock price FUR (AMS) € 15.21 -0.02 (-0.16%)17 Mar, 5:35 PM GMT+1 - Disclaimer CEO Paul van Riel (16 Nov 2012–) Subsidiaries Fugro-BKS, NPA Satellite Mapping | ||
Fugro the search for mh370
Fugro N.V. is a Dutch multinational public company headquartered in Leidschendam, the Netherlands, that provides geotechnical, survey, subsea, and geoscience services for clients, typically oil and gas, telecommunications cable, and infrastructure companies.
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Fugro’s 2014 revenues amounted to €2.6 billion; it is listed on NYSE, Euronext Amsterdam, and is included in the AMX index. It has approximately 13,500 employees in over 70 countries. Paul van Riel is CEO and Chairman of the Board of Management and Harrie L.J. Noy is Chairman of the Supervisory Board.
History
Kornelis "Kees" Joustra founded Fugro on 2 May 1962 as Ingenieursbureau voor Funderingstechniek en Grondmechanica, Dutch for "Engineering Company for Foundation technology and Soil Mechanics". In the wake of the 1970s energy crisis the offshore business came to a standstill. This resulted in the acquisition of its main competitor, McClelland, into Fugro-McClelland in October 1987. Fugro has since vigorously pursued an active acquisition policy in order to obtain cutting-edge technology and increase its market share.
In April 1992, Fugro went public on the Amsterdam Stock Exchange. In 2003, Fugro bought Thales Geosolutions for €147.5 million, its largest acquisition to date. In September 2012, CGGVeritas acquired Fugro’s Geoscience Division for €1.2 billion.
In June 2014 the Australian Transport Safety Bureau (ATSB) awarded Fugro the contract to conduct the search for Malaysia Airlines Flight 370, which disappeared on 8 March 2014. In August 2014 it awarded an additional contract for the deployment of two specialist vessels. The contract is worth AUD$39 million and lasts until August 2016. Fugro has around 200 employees and 3 search vessels dedicated to the search for MH370.
Fugro purchased the Remote Observation Automated Modelling Economic Simulation (ROAMES) technology from Ergon Energy in 2014.
In January 2015, Royal Boskalis Westminster increased its shareholdings in Fugro to 20.1%.
Organization
Fugro is divided into three major business lines across five regions. Each region is assigned a regional manager, who works with counterparts to develop regional strategies and improve collaboration across the regional lines. This regional model is intended to standardize company practices regarding health, safety, environment, project management, and finance.
Regions
Business lines
Fugro has three major business lines:
In 2014, surveying accounted for the largest portion of Fugro's revenue (34%), followed by geotechnical (30%), and subsea services (24%). It also has a geosciences joint venture with CGG, which accounted for 12% of Fugro's revenue in 2014.
Fugro also operates the Starfix and Skyfix DGNSS systems, providing correction information to GPS and GLONASS navigation and survey systems. These systems are also called Seastar (for dynamic positioning) and Omnistar (for land).
Ships
Fugro owns, operates or co-operates 21 survey ships, 19 ships for subsea work, and 7 geotechnical vessels.
These include: