Viking Life-Saving Equipment reports 2010 growth - Trade Only Today

Viking Life-Saving Equipment reports 2010 growth

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Denmark's Viking Life-Saving Equipment, a global manufacturer of safety equipment for the maritime, offshore and fire industries, said it grew about 11 percent in 2010.

Last year's strategic focus areas - increasing the product range and expanding service solutions - resulted in an operating profit of 97.6 million Danish kroner (about $18.6 million), a 6 percent increase from the previous year.

The opening of new service stations and significantly expanded production led to an increase in employees from 1,237 in 2009 to about 1,500 in December 2010.

"The market increasingly demands service and support standards, and we have met that need. Our primary initiative, the Shipowner Agreements, is the widest and yet the most flexible service agreement available within marine safety equipment," CEO Henrik Uhd Christensen said in a statement.

Last fall, Viking acquired former competitor Hygrapha Safety at Sea GmbH & Co., one of the world's leading independent wholesalers in marine safety equipment. The integration has been very successful, the company said.

Viking's goal this year is to continue to increase its product range, its services and its presence worldwide.

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