In the Press
Wireline tool firm plans expansion
Date: 12/11/08
The Press and Journal
By David Tefler
SPECIALIST wireline tool manufacturer Peak Well Services is to increase its north-east workforce and move into new premises. The firm currently employs four at office in Carden Place, Aberdeen including new regional managing director Gordon Angus, who will oversee operations across Europe and Africa. Peak, which has its head quarters in Perth, Australia said yesterday it planned to have 30 staff in the north-east within a few years. The firm is also investing in a new custom built facility at Kintore, Aberdeenshire, with work due to start soon. The 7,000sq ft base will initially be used for the sale and rental of tools and follow-up training and offshore services. However, as the company aims to replicate its Australian operations, there is scope to include the design and manufacture of tools from the new premises. Mr Angus, who was previously chief financial officer at Peak Group, said: "We are committed to the North Sea oil market and see the region as a major growth area. Since it launched from a standing start in 2002, our Perth operation now employs around 60 people and is expected to turnover £10 million this year. We know there is a similar demand for our services in the North Sea and as such, I am confident that our Aberdeen business can achieve this level of growth in a similar timeframe. While our tools are currently designed and manufactured in Perth, our intention is to employ a design engineer in Aberdeen to provide support for our North Sea customers. Once our Kintore base is up and running next year and staff numbers have reached our expected levels, we will look to establish manufacturing capabilities which will cater for the forecast demand across the North Sea, Europe and Africa regions."
