Cumbria-based James Fisher and Sons Plc, a provider of marine and engineering services, has acquired MB Faber for up to £5.25 million in cash. 

Cumbria-based James Fisher and Sons Plc, a provider of marine and engineering services, has acquired MB Faber for up to £5.25 million in cash.

Faber provides specialist engineering services to the nuclear and aerospace industries and will be integrated into James Fisher’s existing nuclear decommissioning business, James Fisher Nuclear. The Lancashire-based company employs 120 engineers and generated a turnover of £6.8 million in 2008.

Tim Harris, chairman of James Fisher, said: ‘Faber will strengthen our nuclear decommissioning team and business which has been performing strongly in recent times’.

James Fisher reported an increase in revenue of 28 per cent to £233.6 million in 2008, and pre-tax profits were up 26 per cent to £24.2 million.