Ferguson Group said yesterday it was planning to invest nearly £75million in the business over three years, with most of the money being spent on further expansion in overseas operations.
The Inverurie-based company is a specialist in the rental of containers and accommodation and engineering modules to the offshore energy industry worldwide.
Its results for 2009, which have just been released, show turnover up 20% to £36million, while pre-tax profits were nearly £1million higher at £13.5million.
Group finance director Mike Melville said: “The 2009 turnover growth reflects the continuing significant investment we are making in our rental asset fleets both here in the north-east and at all the overseas locations we operate from.
“Nearly 75% of our revenue now comes from outwith the UK market and we expect this rising trend to continue.
“We are investing in new group headquarters at Midmill in Kintore, where our module rental business will also relocate to around the start of 2011.
“Our manufacturing division will continue to operate from Inverurie. The new facility will also house our new accommodation-support vessel (ASV) division.”
Ferguson is investing £20million in its first ASV, being outfitted at Port Glasgow, which will be available for charter from September.
It has plans to build additional ASVs suitable for energy industry operations in any global location.
Mr Melville said: “This is a very exciting period for the Ferguson Group and one in which we expect to continue to build upon the strong internationalisation the group has already achieved.
“We have made a good start to 2010 and are starting to see increasing demand coming through in all the markets we operate in which underpins the ambitious investment and growth plans we have for the company.”
There are divisions in the UK, Norway, Singapore and Australia and the group employs more than 150 people.
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