Scotland’s First Minister, Alex Salmond, MSP, was given a tour of pipeline engineering specialist STATS Group, as the company revealed 2011 turnover would exceed £17.5 million ($28.2 million).
Mr Salmond was invited to visit STATS’ headquarters in Kintore, near Aberdeen, in recognition of his support during one of the most challenging periods in the company’s history which limited growth.
The First Minister heard how STATS has emerged from the global downturn in excellent shape, with 2010 turnover increasing by 42% up to £13.2 million ($21.2 million) and year end accounts showing a pre-tax profit in excess of £1.2 million ($1.9 million).
STATS are a leading provider of pipeline and process isolation and intervention services and technologies across the oil, gas and petrochemical industries, which reduce system or plant downtime and enhance safety and environmental performance.
Mr Salmond was shown around the workshops, watched demonstrations of STATS’ patented technologies, and was introduced to staff and other company directors, Angus Bowie and Garry Allan.
In addition to its core business in the North Sea, STATS is engaged in projects in Qatar, Malaysia, Abu Dhabi, Saudi Arabia and South America, while its Canadian subsidiary company is performing well and recently won a major C$ 3 million (£1.85 million) contract.
STATS managing director, Pete Duguid, said: “Mr Salmond has been extremely supportive during economically challenging times, ensuring this home-grown Scottish company was well placed to take advantage of renewed confidence within the sector.
“We appreciate the effort he made on our behalf and we hope that, as we grow and continue to create jobs and expand in international markets, that we he will take an ongoing interest in STATS’ progress.”
Mr Salmond said he was delighted to see at first hand the innovative work taking place at Kintore and to hear how STATS was preparing for global expansion.
Mr Salmond said: “STATS is a fine example of an indigenous Scottish company which has grown successfully into a high-end technical innovator with products in demand across the oil producing world.
“It is this kind of company on which the future of Scotland depends and it is important to ensure that STATS and others of their ilk continue to prosper, create employment and promote Scottish engineering in international markets.
“Everything that goes out STATS’ door is designed, manufactured, assembled and tested in Kintore, on our doorstep, then installed across the globe. I am delighted to have been able to support them and will be keeping a close eye on their progress.”
Note to Editors
STATS Group is a specialist engineering company and service provider that operates predominantly in the arena of piping and pipeline integrity and maintenance. We supply a comprehensive range of products and services, which enable piping and pipeline isolation, intervention, inspection, repair, connection, and testing work scopes.
The majority of our works are undertaken on mature assets, typically process piping onboard offshore facilities (fixed and floating). We also supply products and services for infield and trunk pipelines both onshore and subsea, as well as onshore processing and distribution terminal facilities.
Established in 1998, our key drivers of providing innovation, value and rapid response, has cemented our reputation in the UK-North Sea Sector for always exceeding client expectations. Every product in the STATS portfolio is designed, manufactured, assembled and tested by our own in-house engineers and technicians.
In 2009, STATS Group invested £5 million in a new headquarters at Kintore near Aberdeen, which includes 40,000 sq ft of workshops, storage and testing facilities.
Issued on behalf of STATS Group Ltd by Sure Public Relations. For further information please contact Stephen Rafferty on +44 (0)7980 598764 or email email@example.com