North America provides growth surge for Aberdeenshire pipeline specialist Stats
Stats Group, the Aberdeenshire pipeline technology specialist, is forecasting double-digit global growth thanks to a surge in business in North America.
The firm, which is headquartered in Kintore, near Aberdeen, is projecting 30 per cent year-on-year growth in Canada, with more than 45 per cent growth penned in for the US, underpinning an estimated 15 per cent global hike for the wider group.
Stephen Rawlinson, Stats Group’s vice president for Americas, said: “The projected growth is partly down to a wider market acceptance of our technology and that we are establishing a reputation as ‘big diameter specialists’, with continued investment in our technology.
“As a company, we recognise that we must play our part in the transition to net-zero and have just released our first sustainability report, which is an overview of our global operations and a commitment to look at reducing carbon emissions wherever possible.
“We also have a role to play in helping our clients meet global decarbonisation targets and are working closely with a number of customers to embrace emerging technologies and to look at different ways of working which minimise the impact on the environment.”
The Scots group has had a presence in Edmonton since 2006 and in Houston since 2014, and while the focus is to strengthen those offerings, there could potentially be further expansion of the company’s infrastructure in North America.
Rawlinson added: “The importance of having an in-country presence can’t be underestimated and we prefer to invest in supporting local manufacturing and in training locally based staff, than shipping equipment and personnel in and out as demand dictates.
“However, we also have the advantage of a highly skilled internationally mobile workforce which we can leverage at times of peak demand.”
Stats said it had relocated its chief operating officer Steven Byers from the company’s Aberdeenshire headquarters to Houston.
Chief executive Leigh Howarth said: “Steven Byers will continue to provide operational leadership and support to all our regions but his relocation to Houston reflects the importance of the North American business.
“He will provide support to our US president and general manager Scott McNae in developing our operational strength in anticipation of substantial growth opportunities in the region.”
In May, Stats Group booked a 17 per cent jump in revenues and forecast a further rise this year amid its continued global expansion.
The firm, which had been the subject of takeover interest earlier this year, said revenues rose to just under £50 million while earnings before interest, taxes, depreciation and amortisation (Ebitda), or underlying profits, increased to £7.8m from £6.5m.
The accounts for the year to December 31, 2021 also showed the group’s pre-tax profits rising from £1m to £1.5m.
Stats principal activity is the provision of pressurised pipeline isolation, “hot tapping” and plugging services to the global oil, gas and petrochemical industries.
Earlier this year, a potential £73m acquisition of Stats Group was called off. In December, the company revealed that it had reached agreement on the transaction with SRJ Technologies Group, a publicly listed company on the Australian Securities Exchange (ASE).
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