Mobilarm reaches out

Perth-based Mobilarm hopes that recent contract wins and a UK acquisition will accelerate the take up of its marine safety equipment in the international offshore oil and gas sector.

The company specialises in delivering a range of crew-monitoring systems for use on vessels and in marine-based facilities, which are capable of providing in-water tracking of man overboard casualties in the water.

Mobilarm announced last week it had established an office in Washington DC to tap into emerging opportunities in the defence, offshore oil and gas and commercial marine sectors in North America.

Mobilarm chief executive Lindsay Lyon said he expected that the US would be the company’s largest market in within the next 12 months, with demand increasing from US customers and the US Navy.

“Recent acceptance by US regulatory standard bodies will enable Mobilarm to launch into the North American market in the latter half of 2011 and expand our customer base into the US offshore energy and commercial marine sectors,” Mr Lyon said.

The company also announced it would undertake a series of capital raisings, including a $950,000 placement and a $3.1 million entitlement issue to raise money for its acquisition of UK-based Marine Rescue Technologies.

Marine Rescue Technologies is the company responsible for developing and marketing the highly regarded personal locator beacon brand, Sea Marshall.

Mobilarm will pay a cash consideration of about £1.8 million to Marine Rescue Technologies and issue to the vendors of Marine Rescue Technologies 20,139,545 shares in Mobilarm, as approved at Mobilarm’s general meeting.