First Minister Gets The STATS on Engineering Success

Source: www.gulfoilandgas.com 1/31/2011, Location: Europe

Scotland's First Minister and Gordon MSP, Alex Salmond, visited pipeline engineering specialist, STATS Group, as the company revealed 2011 turnover would exceed £17.5 million.

Mr Salmond was invited to tour STATS' headquarters in Kintore in recognition of his support during one of the most challenging periods in the company's history in which growth was severely restricted.

Mr Salmond built up a strong relationship with STATS's owners Pete Duguid and Lorraine Porter, assisting them is his role as constituency MSP during a time in which the business experienced difficult trading conditions - primarily due to changes in bank lending - and was forced to make 40 staff redundant.

But the company is expected to report 2010 turnover has increased by 42%, up to £13.2 million, and year end accounts will post pre-tax profit in excess of £1.2 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 the last year the company has recruited 16 staff, including a number of those previously made redundant, and plans to recruit a further 15 staff to capitalise on the exciting global opportunities ahead in 2011.

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 (£1.85M) contract.

STATS managing director, Pete Duguid, said: "Like every other company in our sector we endured a very difficult time but we are now forging ahead and getting back to what we do best.

"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 wealth in Aberdeenshire, that we he will take an ongoing interest in STATS' progress."

The Gordon MSP said he was delighted to see at first hand the innovative work taking place at Kintore and to hear how STATS was preparing for international 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 the 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 in difficult times and will be keeping a close eye on their progress."


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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


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