Technip will employ about 300 of the former Subociean workers, reports the Press & Journal. In June, the company was awarded the Best Company accolade in the Renewable Energy Association British Renewable Energy Awards. But the underwater cable-laying company  went into adminstration at which time some  50 redundancies were made by administrator PwC.

Subocean will be absorbed into Technip's renewable business contributing to Technip’s strategy to develop a leading position in the offshore renewables market. The purchase includes Subocean’s land-based assets and some key future contracts.

Ron Cookson (right) MD of Technip UK, said: “We are very pleased to have been able to capitalise upon the high-potential renewables market, and look forward to welcoming Subocean into the Technip group.”

Last year Technip declared it would locate a North Sea offshore renewables head office in Westhill. Technip chair and (left) CEO Thierry Pilenko said the company committed to implementing expertise from its core business in the service of renewable energies.

The French group employs about 800 people in its Westhill operations. After Subocean went into administration on Friday, it was almost immediately sold on by PwC to Technip, which  has not taken on Subocean’s debts nor are Subocean directors transferring to Technip.

Subocean, named second-fastest-
growing private company in the UK last month, went to court in a bid to avoid administration. MD John Sinclair (right) was CEO of former CNS Subsea, which collapsed owing more than £20m in 2005.