Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/de-hydraulics-marks-successful-first-year.shtmlDE Hydraulics marks successful first year
Aberdeen-based hydraulic engineering company, DE Hydraulics, has capped a highly successful initial 12 months in business by recording a first year turnover in
Aberdeen-based hydraulic engineering company, DE Hydraulics, has capped a highly successful initial 12 months in business by recording a first year turnover in excess of £1 million.
And the company – which specialises in the design, manufacture and installation of hydraulic and pneumatic power systems for companies operating within the oil and gas and subsea sectors – is looking forward to an equally positive period ahead, as it aims to increase this figure by 50% in the next 12 months.
As part its growth strategy, the firm – which currently has 13 members of staff – also aims to expand its workforce by 20% over the coming year.
The company was formed last year by the directors of its sister company, DE Engineering, which was established in 1999 as a fabrication and repair company, working, initially, in the paper making industry but which has now expanded into the oil, gas, marine and civil engineering sectors.
The directors of DE Engineering identified a gap in the market for the provision of power units and DE Hydraulics commenced operating in November 2008.
Working primarily with major international well service providers and drilling contractors, the company’s expertise means it can provide a complete service offering, carrying out each stage of the production process – from inception to design, including the manufacture, installation and commissioning of the units onboard offshore installations.
The company also has a fleet of 45kw hydraulic power units which it leases as part of temporary use contracts, allowing clients to utilise the systems for the duration of single project.
Graeme Matthew, director of DE Hydraulics, commented on the impressive turnover figure and the company’s plans for strategic growth: “To round of our first year in business by recording a turnover in excess of £1 million is extremely positive news for the company.
“On the back of the success we have enjoyed with DE Engineering, we were keen to diversify into the mechanical and hydraulic products sector – a move which we’re delighted to see developing well.
“We’re looking ahead to a bright and exciting period – in which we aim to increase our annual turnover by 50% and expand our workforce by 20% – as we further grow the DE Hydraulics name and establish the company as market leaders within the hydraulic engineering industry.”