Industry

Magma ICMM Completed

12 Mar 2015

Magma Global has added two spooling reels to complete their showcase In-Country Manufacturing Module (ICMM) facility in Portsmouth, designed to help the company’s expansion, increase exports around the globe and enable oil and gas industry clients to produce its m-pipe® product in-country to meet legislative and local obligations.

Originally opened in February 2014 by Business Secretary Dr Vince Cable MP, and part of the Magma Global £12.75 million quayside development scheme at Trafalgar Wharf, the thirty tonne reels will be used to store and offload Magma’s m-pipe designed for the subsea oil and gas industry from the high-technology ICMM manufacturing facility.

Magma has benefited from £2.8 million awarded through the Government’s Regional Growth Fund to help construct the facility and scale up manufacture of spooled piping in the Portsmouth and Solent area. The company has grown from employing four to 140 staff in four years, and has also benefited from over £500,000 of government funding through the Technology Strategy Board, helping the company research and develop innovative subsea technologies.

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