With support from a six-figure funding package from Royal Bank of Scotland, the recently completed combined office, co-owned by Cable Solutions Worldwide and ESWL, will allow the businesses to expand further into the international oil and gas market.
Cable Solutions provides design, manufacturing, supply and project management facilities to the oil and gas, subsea, ship building and renewable energy sectors. It is hoped the larger, purpose-built space will increase productivity and allow the firm to take on extra members of staff, in addition to widening its product reach.
Building co-owner ESWL, a procurement company to the local and international energy sectors, is aiming to expand its sales and engineering team over the next year.
Colin Fraser, director of Cable Solutions Worldwide, said: “We’ve come through a relatively turbulent period within the subsea and oil and gas sectors and are now looking to expand into more robust markets.
“The purpose-built facility will allow us to increase the cable assembly process, provide more diverse products, stock more of our customers’ favourites and provide jobs to the local economy.”
Iain Dougary, director of ESWL, said: “It’s positive to see other North-east businesses growing and confidence returning to the sector. Our new Inverurie premises will allow us to strengthen our existing team, by hiring new team members in our sales and engineering workshop.”
Martin Ramsay, relationship director at Royal Bank of Scotland, added: “The growth plans of both Cable Solutions and ESWL are a prime example of confidence returning to the oil and gas sector within Scotland, benefiting the local economy greatly.”