Aberdeen-based Apex Tubulars, which supplies casing and tubing to the oil industry, revealed yesterday it had landed international contracts worth more than £9million.
The work has been won since the firm agreed £3.1million of new funding with the Royal Bank of Scotland Corporate and Institutional Banking (RBS CIB) at the end of 2011.
This has allowed Apex to boost its sales push significantly in the global oil market and has led to deals being agreed in the Middle East and Australasia.
The company is forecasting strong demand for its services as world energy pressures increase the focus on oil and gas production. Sales director Ronnie Grant said: “Since selling off the service side of Apex (Apex Tubulars Inspection Services) in June last year, to Broadcairn, which now operates under the name of Cairntoul, the business has been able to refocus and concentrate on investing in and selling premium gas-tight casing and tubing.
“The additional Royal Bank of Scotland funding has allowed Apex to buy more product and trade more casing and tubing, at a time when the market demand for the product has increased, thus helping the business grow further.
“The company wants to continue to get its name out there in the marketplace, building its reputation on delivering a quality service and product globally. The timing of the new funding . . . could not have been better. Apex is in a very strong financial position.”
Derek Busby, regional director for RBS CIB in Aberdeen, said: “Apex has been proactively exporting the engineering expertise honed in Aberdeen to the international market and I’m delighted that RBS has been able to help the firm succeed.”