Stats Group, the Inverurie-headquartered pipeline technology specialist, is eyeing a greater share of the North American market as it forecasts a major turnover boost in its US and Canadian operations.
The group, which provides engineering services to the energy industry, expects revenues in Canada to grow to £6.5 million, an increase of 35 per cent on the previous year, while annual earnings from its US division are forecast to leap 131 per cent to £6.7m.
Stats recently relocated its Canadian arm into larger premises in Edmonton. The business revealed it has invested around £2m in its new office and the associated infrastructure to support its expansion in the North American market.
Its 35,000 square foot facility includes an office, workshop and extensive fabrication capacity which allows the firm to assemble, manufacture, support and test a larger number of components and tools in Canada. It claims this results in a “quicker and more efficient turnaround” for clients.
Meanwhile its Houston team, led by president and general manager Scott McNae, expects to substantially increase its workforce by the end of the year to capitalise on a “buoyant” US market.
Stephen Rawlinson, regional director for the Americas region, said: “This investment in larger facilities underlines our commitment to the Canadian energy and utilities sector and gives us the ability to provide high quality client-specific solutions in a much shorter timeframe.
“Traditionally, we have provided our industry-leading technology and services to clients on a rental basis but the introduction of product sales has proved extremely popular.
“This is really driving sustainable growth in our Canadian business, despite overall negativity in the Canadian oil and gas industry due to a lack of pipeline market access.”