Proserv Creates New Job Opportunities After Reporting 17% Rise in Turnover

23 January 2012

Within the last 12 months, Proserv has surpassed its ambitious growth figures with a projected turnover of £113million for the year ending December, 2011. This figure rose from £96million for the same period last year, underpinning the company's fast-evolving international track record and increasingly-growing demand for its integrated specialist services and world-class technologies.

Proserv's strong business growth comes just three months after the company harnessed its position for future accelerated expansion by announcing that it had consolidated five separate entity companies under the Proserv brand.

David Lamont, Proserv's chief executive officer, said: 'Since the merger, we have seen significant growth in our business due to our increased capabilities and expertise, particularly in the drilling, production, subsea and decommissioning sectors.

'We forecast even stronger results for 2012, having secured a number of new contracts and as a result, we will be building on our current global workforce of almost 800 people by a further 17% next year to support our current order book and strong sales pipeline. This reinforces our ambitious plans for future accelerated expansion and to meet demand for our enhanced portfolio of complimentary products and services to clients globally.'

Around 40 to 50 of the new employment opportunities are to be created in Aberdeen City and Shire.

In July, Proserv announced the completion of a new financing arrangement for around £72 million (approximately $115million) which brought together five respected and successful companies under its brand. The five businesses, which are now known as Proserv, were: Proserv Technology, Proserv Offshore, Hydrafit Subsea, all located in Aberdeenshire; and Houston-based Gilmore Valve and Argus Subsea.

Leveraging the strong market positions, track records and capabilities of these individual companies, Proserv can offer clients an enhanced portfolio of field-proven complementary technologies, in-depth engineering expertise and world-class service.

'Bringing all five businesses together under one cohesive organisation with its own identity has enhanced our market-leading presence as well as extended our global footprint and support coverage,' said David. 'Our focus is to build on our current position, invest in recruitment and the training of our people and continue with the global promotion of our full product and service range into new and existing markets.'

Proserv is a market-leading energy production technology services company which operates worldwide in more than 7 regions and 21 sites including the UK, the USA, Scandinavia, the Middle East, Far East, Africa and Australia. The company has a 35-year track record in delivering bespoke technologies and services for the energy industry, particularly in the drilling, production, subsea and decommissioning market sectors.