Reflex Marine Reports 52% Growth

MarineLink.com
Wednesday, July 03, 2013
Philip Strong, chief executive and founder of Reflex Marine

Reflex Marine reported 52% growth in the last year through expanding global markets. Reflex said it has reached £5.8 million turnover, almost double its forecasted growth of 27% - with a profit before tax of around £1 million. Reflex Marine will donate 7.5% of its net profits (a record c.£56,000) to charitable causes via its not-for-profit Reflex Foundation.

Reflex Marine supplies crew transfer devices and associated services. Its main products are the FROG and TORO – capsules that hold between three and nine crew-members to transfer them safely between a platform and vessel using a crane. Its growth has been enhanced through a growing network of distributors and accredited service centers across the world, which now represents around half of the company’s revenue.

Philip Strong, chief executive and founder of Reflex Marine, said, “Over the past year we have focused on extending the level of support that we can offer to our global client base and we are delighted with these results, which have surpassed our expectations."

He added, “Our goal is to improve safety and professionalize marine transfer activities across the range of industries that rely on marine access, often in very challenging conditions. From our base in Cornwall we are positively impacting marine based crew logistics across the world and providing a safe and efficient alternative to helicopter transfers."

Asia and Europe represent strong markets for Reflex Marine’s products, collectively representing 64% of income. The company also exports to Africa, the Middle East, North America and South America.

Reflex Marine currently employs 26 people in its head office in Truro, Cornwall, and in Houston. The growth is expected to result in the creation of 10 new jobs – two in the U.S. and the remainder in the U.K.

reflexmarine.com

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Pollet to Lead R&D at Coldharbour Marine

Coldharbour Marine Ltd. has appointed Professor Bruno Pollet to head its R&D department.   Bruno Pollet moves to Linby, Nottinghamshire from the University of the Western Cape,

ClassNK Opens R&D Center in Singapore

Classification society ClassNK promoted the activities of its new Global Research and Innovation Center (GRIC) at a press conference held today in Singapore.   Joined

ABS Appoints New Chief Technology Officer

ABS named Howard Fireman as Senior Vice President and Chief Technology Officer (CTO) effective April 20 in a move that strengthens alignment and generates further

Finance

Royal Caribbean Cuts Profit Forecast

Royal Caribbean Cruises Ltd cut its adjusted profit forecast for the year, citing a jump in fuel prices since its January forecast and a strong dollar.   Shares

Baltic Index Up Slightly on Higher Rates for Large Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose slightly on Monday due to firmer rates for the large vessel segments.

ExxonMobil President Seeks Swift Action on US LNG Exports

The United States is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves

Marine Equipment

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Hull Inspection Systems Delivered to the US Navy

Bluefin Robotics has delivered new vehicles to the U.S. Navy that aim to increase the Navy's capability to remotely search and investigate ship hulls, harbor sea

Pollet to Lead R&D at Coldharbour Marine

Coldharbour Marine Ltd. has appointed Professor Bruno Pollet to head its R&D department.   Bruno Pollet moves to Linby, Nottinghamshire from the University of the Western Cape,

Deck Machinery

MacGregor Inks Deal with Grupo CBO

MacGregor, part of Cargotec, has secured a contract with the Brazilian shipowner and shipbuilder Grupo CBO. The contract is to supply Triplex deck handling equipment

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1749 sec (6 req/sec)