Oil and gas logistics firm Asco Group says the Americas region is going to be a big growth area for the business going forward.
The Aberdeen company’s ambitious plans were outlined yesterday by new group chief executive Derek Smith.
Speaking on the third day of the huge OTC oil show in Houston, Texas, he revealed that the Americas now accounted for around £140million of the group’s £700million annual turnover.
Mr Smith said: “We are aiming to double the region’s turnover by 2015 or 2016 as part of general growth at Asco.”
The area takes in operations in Canada, the US, Trinidad and Tobago and Brazil and is led by Americas chief executive John Jordan. Around 500 people work in the region, making it Asco’s second largest after Europe. Around 120 of them are based Houston and Denver.
Mr Smith is forecasting up to 300 more people being added to the Americas workforce in the next few years.
Last year saw big growth for the Americas region, including the acquisition of three oilfield service companies in Alberta, Canada.
Asco also invested in Louisiana-based Advanced Logistics, a marine and logistics management software company, plus a technology business: Brisbane-based Oniqua Analytics, which also has an office in Denver.
Earlier this year, Asco signed a co-operation agreement with Brazilian logistics company LLX to support the development of Brazil’s new port, Acu Superport, just north of Rio De Janeiro.
In the Gulf of Mexico, Asco’s safety training business, NSL, recently opened a new training centre and head office in Houston.
Mr Smith said: “Expanding our geographical footprint will be key in moving forward, and having just signed a co-operation agreement with LLX to develop the superport of Acu this gives us yet another major logistics hub in the Americas region for oil and gas development.”
Asco employs about 2,200 people worldwide, including about 800 in the north-east and Shetland.
The group announced Mr Smith’s promotion to CEO yesterday, replacing Billy Allan who has become executive chairman.
Mr Smith joined Asco in 2007 and had been the chief operating officer for the past 12 months.
Prior to that, he was the chief executive of the Europe, Middle East and north Africa region.
Mr Allan said: “Derek has many years of experience with Asco and has played a fundamental role in the recent growth of its business worldwide, including the acquisition of five new businesses.
“He is very well placed to steer the next chapter of Asco’s growth and I look forward to supporting him in this role as executive chairman.”
Mr Smith added: “I am looking forward to the challenge of leading Asco at such an exciting period in the company’s development.”