Local boom boosts supplier
A SPECIALIST supplier to the oil and gas sector, which said it had seen turnover increase by 60% in the last two years, is expecting a further rise in 2009.
Glamal Engineering said its forecast one-sixth rise was driven by a Teesside boom in off and on-shore projects.
The company has increased its workforce significantly since relocating to Wynyard Park in April 2006.
A stockholder and supplier of carbon and stainless pipes, fittings and flanges to the oil and gas, petrochemical and water industries, it has operated in Teesside for 37 years.
With a turnover of £30m in the last financial year, Glamal is forecasting £35m in 2009, bolstered by activities in its new office in Runcorn, which is expected to turnover £1.5m this year.
Glamal now employs 75 people at Wynyard Park and has five members of staff in Runcorn.
Last month, Glamal revealed it had invested £1.5m in another storage facility at Eaglescliffe.
Managing director Neil Pentland said: “Over the last two years we have dramatically increased levels of activity in the North-east and we predict that over the next two years 65% of our business will be derived from local projects and companies.”
Share
