ABERDEEN engineering service firm PD&MS has its sights set on £50million turnover and substantial job growth after launching new operations in Brazil and Dundee.
PD&MS group – part of the Teesside-based Wilton Group – has created Wilton Dundee, a rig-upgrade and vessel-mobilisation business, which has already turned over £3million since being launched in February.
The group has also opened a base in Brazil, called PD&MS Brazil, is growing its PD&MS Southern North Sea business in East Anglia and is now also looking to Norway, having recently won a contract with Teekay Petrojarl.
However, PD&MS chief executive David Mackay said there would also be growth in Aberdeen; the firm wants to add about 60 people to its 150-strong Granite City workforce by the end of 2012.
He added: “We plan to grow 25% year-on-year.
“We are taking on bigger and bigger projects. We are not pretending to be a big player, but we aim to be the top end of our market.”
In the year to the end of June, PD&MS turned over £32million compared to £24million in 2010.
It has its eyes set on £40million next year and £50million the year after, according to Mr Mackay.
Wilton Group, including PD&MS, now turns over about £60million.
The move to Dundee came when the firm, which focuses on brownfield engineering including upgrades and fabric maintenance for platforms and rigs, won a services agreement with Rowan Companies. Historically, we would have done design engineering for the work or supplied people to the shipyards,” said Mr Mackay, also Wilton Dundee’s managing director.
“The Dundee site came up at the right time for us. When we secured the rig support contract with Rowan, it was its preferred port.”
The Wilton Dundee division, employing 50 people, has since worked on rigs including the Rowan Gorilla V, Rowan Norway and Rowan Viking, and hopes to hit £12million turnover by the end of the year.
In addition to growth in the UK, Brazil and Norway, the firm is also looking at strategic acquisitions or possible joint ventures to aid its ambitions.
The firm was founded in 2002 by four directors and acquired by Wilton Group in 2008.
Mr Mackay said that the purchase gave PD&MS more financial clout and the ability to provide a “whole engineering, project-management, installation and construction approach”.