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.”
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Source: STATS Group, February 1, 2010;