19 Jul 2012 11:15
PressureFab Group announces investment package to create jobs at Dundee site
PressureFab Group’s Board of Directors has committed to an investment package of £935K to upgrade its Dundee facility, creating 25 jobs over the next two years.
The upgrade will enable PressureFab Group to take advantage of future demands from the oil and gas industry, as well as the emerging renewable energy sector. This will transform the Dundee based facility into one of the most technologically advanced steel manufacturing and industrial coating businesses in the United Kingdom.
In support of this investment, the major supplier of transport and development equipment to the offshore industry has been awarded a £250K Regional Selective Assistance grant from Scottish Enterprise.
Hermann Twickler, Managing Director of PressureFab Group, said: “This £935K investment package is urgently required to sustain further growth for the Group and to enable us to compete on the world market, as well as within the Scottish offshore sector. PressureFab Group is also now ready to handle any new challenges and opportunities that the developing renewable industry may bring.
"I am really pleased that our application for RSA funding has been approved by Scottish Enterprise. This award is further proof that the Scottish Government and Scottish Enterprise are truly committed to nurturing the Scottish manufacturing sector.
“Since we moved into our Dundee facility two years ago, we have already created nearly forty new jobs in Dundee. We are currently recruiting for several positions, including at least ten welders, and hope to increase our staff numbers by more than fifty per cent over the next two years.”
Part of the investment will be used to purchase heavy duty CNC plate forming and rolling machinery, as well as state of the art industrial coating and shotblasting facilities. These additions will enable PressureFab Group to improve productivity with an aim to double capacity and production output.
Lena Wilson, chief executive of Scottish Enterprise said: "PressureFab Group's clear ambitions for international growth have seen the company go from strength to strength over the past two years, and this RSA support will not only see the creation of new jobs, but help ensure the company's continued success.
"PressureFab Group's ambitious outlook make it exactly the type of company we need to see more of in Scotland if we are to see strong economic recovery and future growth. We're working closely to support the business through our account management programme, where we work intensively with a company's management team to help them achieve their growth ambitions. As well as the RSA, this has included support to take part in key trade missions, and we look forward to continuing to work closely with the company to support its future plans."
Energy Minister Fergus Ewing said: "Scotland's oil and gas sector leads the world, and makes an immense contribution to our economy, thanks to our world leading expertise and innovation. With more than half of the value of the North Sea's oil and gas reserves yet to be extracted, oil and gas will remain an enormous economic resource for decades to come.
"The Scottish Government's oil and gas strategy promises increases in public sector support to companies with significant growth prospects. I welcome PressureFab Group's decision to invest in the industry's future, and am delighted we can support them in this investment with Regional Selective Assistance."
Notes to Editors:
About the PressureFab Group
PressureFab Group is a leading supplier of transport and development equipment for the offshore oil & gas industry, and is certainly ready to handle any new challenges and opportunities from the developing renewable industry.
The Group designs, builds and paints a full range of offshore containers and filtration systems (H2X), which are manufactured to rigorous industry standards such as DNV 2.7-1, BS EN 12079 and PED.
ISO 9001:2008 accredited, PressureFab Group’s audited quality system supports 100% material traceability, essential to meet the strict requirements of the certifying bodies operating in the offshore oil and gas industry, such as Lloyds Register and DNV.
Located just off the A90, near the Port of Dundee, PressureFab Group is conveniently situated half way between Edinburgh and Aberdeen.
For more information please contact:
T: 01382 669944
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is Scotland's main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy. Our role is to help identify and exploit the best opportunities for economic growth. We support ambitious Scottish companies to compete within the global marketplace and help build Scotland’s globally competitive sectors. We also work with a range of partners in the public and private sectors to attract new investment to Scotland and to help create a world-class business environment.
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Regional Selective Assistance (RSA) is the main national scheme of financial assistance to industry. It provides discretionary grants to investment projects that will create and safeguard employment in areas designated for regional aid under European Community law.
Payment of RSA is made in instalments, typically over several years as job and capital expenditure targets are met. Not all projects will proceed, and nor do all accepted offers result in full payment, as projects are sometimes scaled down or abandoned before payments are made. The figures quoted represent the maximum grant potentially payable if the project is satisfactorily completed, and not the amount actually paid to date. All job numbers are firms’ forecast figures, and are subject to change depending on future economic conditions and other factors affecting the businesses concerned.
For more information on RSA go to http://www.scottish-enterprise.com/rsa