• Baltic Princess
    Cabin modifications

  • Industry
    Shaft alignment after maintenance

  • FPT Iveco
    SRC is representing all of FPT Iveco’s products

SRC was established in 2001. Below is a brief year-by-year overview of our short, yet busy, history.

2001. SRC is established towards the end of the year. There are average of 8 people on pay-roll.

2002. A year of considerable growth in repair projects done and expansion into diesel maintenance and overhauling services. Average number of employees rises to 36.

2003. SRC expands its services to electrical and interior works. Average number of employees - 43.

2004. Another year of fast growth. A major conversion of a cruise vessel is completed and 100 tons of steel and pipe replacement on board of a coal barge is carried out. In order to be able to take on bigger ship repair projects, SRC acquires Estonia`s oldest machine building factory “Ilmarine”, founded in 1859, with a production area of 10 000 m². With this acquisition, average number of employees reaches 68.

2005. SRC moves on to another market – shipbuilding. A contract is signed for 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). Average number of employees in the corporation -138.

2006. A year of strategic change. 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. That means a drop in sales (as of 2007) and in the average number of employees (107), but an increase in profitability.

2007. Sales volumes in ship repair and conversion are going up and SRC´s evaluates opportunities to enter the dry-docking business.

2008. Sales volumes are increasing again and SRC is starting cooperation with Intelligent Engineering. SRC obtains an exclusive right to offer SPS Overlay technology in the Baltic Sea region.

2009. As the great economic recession hit world trade, shipping related activities take a heavy hit worldwide. SRC´s sales fall, but thanks to restructuring and lay-offs, the Company is able to escape the worst and continues to operate.

2010. The market remains tentative and revenues are lower than in previous years. Thanks to last year´s successful restructuring, the Company is fully adapted to the new situation. In fact, it has gained a new important regular customer – Finnlines. The reputation of SRC mechanical works team is excellent. Future Pipe Industries B.V. (FPI), of The Netherlands, has 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.

2011. The market remains tentative and revenues are almost same than in previous years. The Company is fully adapted to the new situation and after economical crisis finished economical year with profit.

2012. 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 – 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.

2013 - 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. This gives SRC Group the advantage by having local Norwegian staff with know-how and skills from the maritime, offshore and shore based industry, whilst growing and manning up the technical management and work force in its head office in Estonia, thus maintaining its cost competitive edge.

 

  • About SRC

    In 2001, SRC started as a small shiprepair business. By 2005, SRC had grown considerably and was, in addition to ship repair,...

  • Quality management

    The Company has an integrated operations management system,...

Contacts

SRC GROUP AS

Kesk tee 31, 75305 Jüri, Estonia

Phone: +372 6 684 670
Fax: +372 6 684 671
E-mail: src@src.ee

 

VADIM LATKIN

Export Director / Member of the Board
Phone: +372 5287936
E-mail: vadim@src.ee

 

ANDRES VIIRSALU

Sales Manager
Phone: +372 5286099
E-mail: andres@src.ee

 

24/7 service

Phone: +372 53 31 1113

 

SRC NORDIC AS

Nye Vakås vei 80, 1395 Hvalstad, Norway

Mail: P.O box 183, 1378 Nesbru, Norway

 

ODD WATAKER

Business Development Director
Phone: +47 90720259
E-mail: ow@srcnordic.no

LEIV PETTER HESSTVEDT

Director Technical Sales & Projects
Phone: +47 97785570
E-mail: lph@srcnordic.no

 

SRC NETHERLANDS B.V

Bomkade 21

3311 JD Dordrecht, The Netherlands

 

PETER CORTIE

Member of the Board
Phone: +31 (0)6 3016 9336
E-mail: peter@srcnl.nl

ELIE VAN MAREN

Member of the Board
Phone: +31 (0)6 3169 0580
E-mail: elie@srcnl.nl