Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/enermech-invest-20-million-in-us-operations-and-ta.shtmlEnerMech invest $20 million in US operations and targets $78 million growth
Mechanical engineering group EnerMech announced at OTC in Houston that it has
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Mechanical engineering group EnerMech announced at OTC in Houston that it has invested more than £13 million ($20.2m) as it steps up its drive to cement its presence in the US and Mexico.
A recent move to a new 50,000 sq ft workshop, office and storage facility near to Houston’s Energy Corridor has been followed with a £9 million ($14m) investment in new Process, Pipeline and Umbilical (PPU) equipment and in opening a base at Villahermosa, Mexico.
For the Aberdeen headquartered company, the lure of the Gulf of Mexico and its deepwater projects is strong and the strategic investment is already paying off with confirmation of a number of PPU contracts in 2014 worth up to £6 million ($9.3m).
The headcount stands at 40 but Vince Kouns, president of EnerMech’s US operation, expects that to grow to 120 by the end of 2013 with turnover more than trebling from £4 million to £15 million ($6.2m-$23.3m), and trebling again to £50 million ($78m) in 2015.
