North-east hydraulics firm has doubled its turnover in two years after winning work with major oil and gas players, including Subsea 7, Aker Solutions, Oceaneering and Archer Drilling.
ITC Hydraulics said turnover rose from £797,000 in 2012 to £1.6million in 2014, through designing, manufacturing, servicing and maintaining all types of hydraulic and mechanical equipment.
The firm added that it has had a “particularly bright start” to its latest financial year, recording £1million in turnover in only the first three months.
The business was launched by Managing Director, Ian Clark, as a one-man-band in 1999.
Now the company employs 16, based at near Oldmeldrum.
The firm continues to target growth, aiming reach £5.2million in 2017, Mr Clark Said.
Last month the company launched a new electrical department to take in previously sub-contracted electrical work.
The business is also in the process of launching a rental division, to allow the company to offer its products – from BOP (Blow Out Preventer) closing units to umbilical winches – on hire for clients.
Mr Clark said: “To double our annual turnover in only two years is an exceptional achievement, which is testament to the hard work and dedication of our loyal team of staff.
“However, while we’re extremely pleased with our recent growth, we are an ambitious company and have plans in place to further expand the business significantly in the coming years.”