Spear Engineering provides design and engineering, technical and interior refit services in maritime and offshore sectors. We have companies in the Netherlands, Norway, Estonia, Italy, Poland and sales offices in the US and in South Korea. SRC executes repairs, retrofit projects, specialised short lead time conversions and complex tailored conversions in remote areas for demanding customers worldwide. The group has successfully completed more than 5,000 projects across the world, from small repairs to turnkey retrofits. SRC is capable of managing around 1,000 people per project.
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PROJECT MAP
Project
Office
Main office in Estonia
IMPORTANT MILESTONES
2001
The Beginning and Growth
SRC is established towards the end of the year. There is an average of 8 people on pay-roll.
2004
Big Acquisition
SRC acquires Estonia’s oldest machine building factory “Ilmarine”, founded in 1859, with a production area of 10 000 m² to be able to take on bigger ship repair projects,
2005
New market
SRC moved on to another market – shipbuilding – and signed a contract building 6 chemical tankers for a Swedish publicly listed company, Svithoid Tankers. The corporation form is adopted, consisting of the parent company SRC Group, and 3 subisidiaries: SRC Laevateenindus (ship repair and conversion), SRC Uusehitused (shipbuilding) and SRC Ilmarine (machine building, steel).
2006
Focus Shift
100% of SRC Ilmarine and the majority share (80%) of SRC Uusehitused are sold off, in order to concentrate fully on the fields of core competence – ship repair and conversion.
2008
SPS Overlay Technology
Sales volumes continued to increase and SRC formed a partnership with SPS Technology. SRC obtains an exclusive right to offer SPS Overlay technology in the Baltic Sea region.
2010
FPI representation
Future Pipe Industries B.V. (FPI), of The Netherlands, signed the collaboration agreement with SRC Group AS (SRC) to become FPI’s exclusive marine representative, distributor and installation contractor in Estonia, Latvia and Lithuania.
2012
Getting Offshore
SRC started to offer services to offshore sector. Future Pipe Industries B.V. (FPI), of The Netherlands, has extended the collaboration agreement with SRC Group AS (SRC) to become FPI’s exclusive marine representative also in Finland. SRC divided its business into three areas MARINE, OFFSHORE and INDUSTRY.
2013
New Rights and Offices
SRC obtained exclusive rights for sales, service and installation of the FPT IVECO diesel generating sets, industrial engines, marine engines and generating sets. SRC is an authorized dealer of TAPIMER OY who has been selling and servicing IVECO products since 1985 in Finland.
SRC Nordic AS was established in Norway with office location in Asker, 20 minutes ride west of Oslo. The function of SRC Nordic AS is perform sales, marketing and business development for SRC Group’s overall activities.
2017
Establishing SRC Netherlands B.V.
New company – SRC Netherlands B.V. – founded to promote our activities in The Netherlands and neighbouring countries. The focus is on conversions and retrofits, starting from engineering services and design to prefabrication, project management and completion offering the most suitable solutions to our Customers.
2019
SRC Italy & SRC US
New offices were launched in Italy and in USA. SRC Italy SRL has been established in order to be more active and visible in Mediterranean Sea region. The focus is on all our services. SRC US is the logical step for entering more and more to cruise and ferry market on which SRC feels itself very comfortable doing interior refits daily.
2020
SRC Poland
Continued the expansion to new countries and our office was established to Gdansk. The aim is to provide our services also in Poland and neighboring countries with addition of creation of assistance to design department and project management.
2021
SRC Netherlands BV relocating to the Port of Rotterdam
In December 2021 SRC Netherlands BV relocated to Port of Rotterdam. The new office, at the corner of the entrance of the Waalhaven close to Broekman logistics facility, gives the SRC Group direct access to a large quayside located adjacent to the new office facility with a berthing capacity of 45m width and 10.5m draught. Four cranes provide lifting services along the quayside with a capacity of up to 100 tons. Additionally, storage facilities and covered fabrication areas are provided.
2022
Partnership agreement between SRC and Skipavika
SRC Nordic AS and Skipavika Terminal AS have established a partnership to provide their customers with of safer and more sustainable operations. The collaboration benefits both parties. SRC takes a significant step forward in promoting its services in the Northern Sea region. With a broader service portfolio, the agreement makes Skipavika Terminal more attractive to operators looking for support for offshore rigs to prepare them for new assignments.
SUPERVISORY BOARD
DIEDERIK SCHNITLER
Chairman of the Supervisory Board
PRIIT KARJUS
Member of the Supervisory Board
INDREK ERGMA
Member of the Supervisory Board
MANAGEMENT
DIEDERIK SCHNITLER
Chairman of the Supervisory Board
PRIIT KARJUS
Member of the Supervisory Board
INDREK ERGMA
Member of the Supervisory Board