Pipeline engineering specialist STATS Group has had a good start to 2010, with a big jump in contracts won.
The Kintore-based firm has landed more than £8million worth of sales at home and abroad in the first quarter – a 50% improvement on the corresponding period in 2009.
The UK offshore sector accounts for £2.5million of the new deals, with £2million of work secured in Norway, £1million in the Asia-Pacific region, £1million in the Middle East and a further £1million of smaller contracts generated from the Americas.
STATS has also confirmed an additional £1million in tool-rental orders in the same period.
Managing director Pete Duguid said yesterday that, after a challenging 2009, he was encouraged by such a buoyant start to the year and predicted the company would exceed projected revenue for 2010.
He said: “We’ve had strong visibility of the market picking up since late last year and have been working hard behind the scenes to be ready and able to respond to clients’ requirements once market conditions eased and things started returning to some kind of normality. That is now paying off in terms of the number, value and global spread of the contracts we have so far secured in 2010 and we are focused on building on this early success.
“It is a real confidence boost for all our staff that client demand is strong and it’s testament to the quality of our products and engineering skills to have commitment to the tune of more than £8million at this early stage.
“The year is less than three months old, but we are in a very strong position not only to meet our revenue targets but we are very likely to exceed them.
“Like most firms in the energy sector we have experienced some pain in the past 12 months with the financial climate and market slowdown, but we are now well positioned to meet what appears to be a growing need for our services in the market.”
STATS designs, manufactures and instals a range of patented technologies for piping and pipelines in the oil, gas and petrochemical industries which it says reduce system or plant downtime and enhance safety and environmental performance.
It employs 102 people, most of them in the north-east and with others in Houston, the Middle East and Canada.
Last year, the company relocated from Dyce to a £5million headquarters at Kintore outside Aberdeen, which includes 40,000 square feet of workshops, storage and testing facilities.
Clients which have already commissioned STATS for projects in 2010 include BP, Wood Group, Sigma 3, Statoil, ExxonMobil and BJ Services.
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