COSALT Offshore, which supplies safety equipment and services to the oil and gas and marine industries, has concluded an agreement to distribute specialist wire ropes which its chairman Calum Melville believes could be worth £35-£50million over 3 1/2 years.
The exclusive deal, covering the UK only, is with wire-rope manufacturer Bridon and will see Cosalt Offshore, whose principal base is at Bridge of Don in Aberdeen, add significantly to its turnover, which was reported as £41.8million in the year to October 26, 2008.
Mr Melville said there would also be more jobs in Aberdeen, where the business employs 280 out of 400. Cosalt Offshore also has operations at Lowestoft, Stavanger and Rotterdam.
He said: “The agreement with Bridon will be predominantly run out of Aberdeen and partly out of Lowestoft.
“We have already taken over a number of contracts Bridon had and taken on 16 of their people in Inverbervie and Aberdeen, and moved the Inverbervie operation to Aberdeen.
“This year, we have already added 10 staff through our new lifeboat inspection and servicing business and overall in Aberdeen I would expect to have 15 more staff this year through organic growth.”
The deal with Bridon will also see Cosalt Offshore, one of Cosalt’s two divisions, spread its wings at Bridge of Don, where it is leasing a site next to its existing Denmore Road property.
This will give it one acre of open storage and 5,000 square feet of workshops to handle wire rope.
Mr Melville said: “We are creating jobs and the business is going in the right direction. The desire is to become a truly global business and we are looking at acquisition opportunities beyond Europe.”
A wealthy Aberdeen entrepreneur, Mr Melville, whose brother Stuart is operations director at Cosalt Offshore, has other business interests including hotels, property, and oil and gas-industry investments. He is also a director of Dundee FC.
years.
The exclusive deal, covering the UK only, is with wire-rope manufacturer Bridon and will see Cosalt Offshore, whose principal base is at Bridge of Don in Aberdeen, add significantly to its turnover, which was reported as £41.8million in the year to October 26, 2008.
Mr Melville said there would also be more jobs in Aberdeen, where the business employs 280 out of 400. Cosalt Offshore also has operations at Lowestoft, Stavanger and Rotterdam.
He said: “The agreement with Bridon will be predominantly run out of Aberdeen and partly out of Lowestoft.
“We have already taken over a number of contracts Bridon had and taken on 16 of their people in Inverbervie and Aberdeen, and moved the Inverbervie operation to Aberdeen.
“This year, we have already added 10 staff through our new lifeboat inspection and servicing business and overall in Aberdeen I would expect to have 15 more staff this year through organic growth.”
The deal with Bridon will also see Cosalt Offshore, one of Cosalt’s two divisions, spread its wings at Bridge of Don, where it is leasing a site next to its existing Denmore Road property.
This will give it one acre of open storage and 5,000 square feet of workshops to handle wire rope.
Mr Melville said: “We are creating jobs and the business is going in the right direction. The desire is to become a truly global business and we are looking at acquisition opportunities beyond Europe.”
A wealthy Aberdeen entrepreneur, Mr Melville, whose brother Stuart is operations director at Cosalt Offshore, has other business interests including hotels, property, and oil and gas-industry investments. He is also a director of Dundee FC.
years.
The exclusive deal, covering the UK only, is with wire-rope manufacturer Bridon and will see Cosalt Offshore, whose principal base is at Bridge of Don in Aberdeen, add significantly to its turnover, which was reported as £41.8million in the year to October 26, 2008.
Mr Melville said there would also be more jobs in Aberdeen, where the business employs 280 out of 400. Cosalt Offshore also has operations at Lowestoft, Stavanger and Rotterdam.
He said: “The agreement with Bridon will be predominantly run out of Aberdeen and partly out of Lowestoft.
“We have already taken over a number of contracts Bridon had and taken on 16 of their people in Inverbervie and Aberdeen, and moved the Inverbervie operation to Aberdeen.
“This year, we have already added 10 staff through our new lifeboat inspection and servicing business and overall in Aberdeen I would expect to have 15 more staff this year through organic growth.”
The deal with Bridon will also see Cosalt Offshore, one of Cosalt’s two divisions, spread its wings at Bridge of Don, where it is leasing a site next to its existing Denmore Road property.
This will give it one acre of open storage and 5,000 square feet of workshops to handle wire rope.
Mr Melville said: “We are creating jobs and the business is going in the right direction. The desire is to become a truly global business and we are looking at acquisition opportunities beyond Europe.”
A wealthy Aberdeen entrepreneur, Mr Melville, whose brother Stuart is operations director at Cosalt Offshore, has other business interests including hotels, property, and oil and gas-industry investments. He is also a director of Dundee FC.