An Aberdeenshire-based equipment hire company said yesterday it was investing hundreds of thousands of pounds in new products in order to beat the oil and gas downturn.
Quayside Fabrication, headquartered in Colpy, near Insch, has splashed out more than £500,000 on the development of a portable power unit (PPU), a kind of “mobile workshop” aimed at improving safety and efficiency in the energy sector.
The firm, founded in 2010, has also invested in new designs for large containers for lifting equipment to and from the seabed – known in the industry as subsea baskets – as well as a plasma cutting machine.
Its spending spree is intended to position the business to take advantage when the current downturn lifts.
Director David Duncan, said: “These are difficult times for everyone in the industry and we are keen to look for positives and find the opportunities to help our clients save time and money.
“Cost-cutting is important during a lull but so too is delivering high-quality workmanship and products; with our focus on efficiency and innovation, we hope to help our clients through.”
He added: “We’re not as busy as last year. We’d like to have more business but we just have to keep our heads down and get things in place for next year.”
Finding takers for the PPU is currently the main focus for Quayside Fabrication, which employs 50 people and turned over £5million last year.
The new unit, which was rolled out earlier this year, is akin to an all-in-one workshop that can be loaded onto vessels used for subsea construction and dive support in a single lift.
It is a container equipped with a diesel generator, screw compressor, nine power sources for welding and storage space for other items.
Mr Duncan said: “The PPU has been really well-received in the industry. Our clients are finding that it is greatly reducing lift numbers, resulting in huge cost and time savings.
“More importantly, they are delighted with the safety benefits. We’ve had lots of demand for the units that are available locally for hire and are now looking to roll them out globally.”
The company has applied for a patent for the PPU, which can also be used to support onshore projects, and is currently awaiting a decision.
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