A new engineering and technology group aiming to create up to 1,000 jobs across the UK is to be based in Scotland.
Texo Group will be headquartered in a purpose-built facility in Westhill, Aberdeen, which could bring a significant boost to the local economy.
The company announced its intention on Wednesday to create as many as 1,000 job opportunities nationwide and is already projecting annual revenues in excess of £100 million, signalling a potential shot in the arm for Scotland’s recovering oil and gas industry.
In addition to creating a Westhill headquarters, the ambitious plans will involve cooperating with existing facilities at the Port of Dundee and a bespoke fabrication facility to be built at the Port of Blyth, in north-east England.
Ryan Smith, marketing manager at Texo, said the business intends to create these new roles as part of a three to five-year plan.
Smith said: “We will have probably 200 jobs spread out between facilities in Aberdeen and Dundee. The rest will be distributed throughout other sites in the UK.
These will primarily be in the oil and gas, renewable energy, petrochemical, marine, nuclear and infrastructure sectors.”
Smith said the firm is backed by “high net worth private equity”, although the funding sources could not be disclosed for commercial reasons.
He said: “The Texo Group is a blend of acquisitions and new companies. The acquired companies cannot be named at the moment due to legal restrictions.”
Texo Group aims to provide specialist inspection, engineering, procurement and construction (iEPC) services across a variety of sectors, including oil and gas, nuclear and renewable energy.
The group’s chief operations officer, John Wood, said: “Texo Group combines decades of experience and expertise in technology, engineering and industrial services, together with significant capital investment.”
Wood said the group aims to become a market leader by putting innovation at the heart of its business model.
He said: “Challenging the status quo and looking at new processes and technologies to help clients operate, manage and extend the safe working life of their assets is something that is in our DNA.
“We are not looking to be a ‘me-too’ organisation. As a group, we have looked at the architecture of traditional EPC companies with fragmented supply chains and have redesigned the model to become a unique client-centric organisation.”
One of the group’s operational units, Texo Drone, achieved an industry first in June this year after carrying out an internal unmanned aerial vehicle inspection on a live nuclear asset.
The group said it is currently focused on growing its “already significant” project book, and it intends to make several “high profile” announcements over the coming months.