North-east firm Paradigm Drilling Services said yesterday it doubled turnover last year.
Paradigm is based near Inverurie and specialises in drilling tool engineering and manufacturing services for the energy industry.
It turned over nearly £4million in 2012, up from £1.9million in the previous 12 months.
The company said it was to invest £1million on additional manufacturing capacity and rental equipment at its Thainstone Business Park headquarters.
It also wants to add 10 people to its 45-strong workforce before the end of the current year.
Chairman and chief executive Fraser Innes said 2013 had started strongly, thanks to new contracts across the world.
He added: “The business has come a long way since its inception in 2009 when we started with just three members of staff and, due to a number of contract awards, it is essential we continue to grow our workforce to meet the increasing demand for our products and services.”
Paradigm is a subsidiary of Netherlands-based Paradigm Group.
Recommended for you
