Osbit celebrates 10 years in business
Northumberland-based offshore technology supplier Osbit is celebrating a decade in business. Osbit began operations at its Riding Mill headquarters 10 years ago with three owner-directors, now four, all engineers and soon established a powerful engineering team. Over the course of 10 years, Osbit has delivered a number of offshore technology firsts to support its global customer-base. This includes world-first well intervention technology for safer operations, cable laying technology which tripled operational performance, and advanced subsea trenching vehicle technology. It has also recently developed an innovative seabed mineral collector, in partnership with Enshore Subsea. Executive Chairman at Osbit Ltd, Dr Tony Trapp MBE, said: “We have had lots of excitement together with excellent results over the past 10 years, but also plenty of challenges. We made a significant investment in the early years but were able to eliminate debt after three years. 2014 was a record year for us but this was the start of the oil price crash which has seriously damaged the energy markets ever since. “We now have the COVID-19 pandemic and Osbit has continued to deliver high quality engineering in a safe way in 2020 while the world has experienced the greatest level of business and financial turmoil that I have