PIPELINE engineering specialist Stats Group is pumping $5 million (£3.2m) into its Middle East operations to accelerate its expansion in the region.
The Aberdeen-based firm has appointed Angus Bowie as its regional director for the Middle East and North Africa (MENA).
Bowie was previously the firm’s technical director and has relocated from Aberdeen to Abu Dhabi, where he will oversee the opening of new workshop and warehousing facilities and recruiting staff.
The investment will be spread across three years and will include money for facilities and staff in Qatar, Abu Dhabi and Ras al Khaimah, with Saudi Arabia and Oman also believed to be in the company’s sights.
Pete Duguid, Stats Group’s chief executive, expects the MENA region to contribute 30 per cent of this year’s £20m forecasted turnover.
The company was recently awarded a ten-year multi-million pound contract by Qatargas for its emergency pipeline repair system (EPRS).
Bowie said: “The award by Qatargas is a game changer for us in the Middle East and it puts us in an excellent position to take advantage of the emerging EPRS sector in the region.
“Our objective is to elevate Stats from a regional company to a global operation. The Middle East offers huge opportunities to do that and being based in Abu Dhabi I can work closely with our major clients and demonstrate our commitment to them and to the wider market.”
In February, the Business Growth Fund invested £7.8m in Stats Group, taking an equity stake in the business.