Investment paying off
Canada and US driving income for STATS Group
Stephen Rawlinson: infrastructure in place
Pipeline technology specialist STATS Group is growing its market share across the Americas and expects activity in the US and Canada to improve further after increasing turnover by more than 150% in both countries.
Inverurie-based STATS revealed it had recently invested £2 million in new premises and associated infrastructure to support growth plans in the Americas.
Revenues in Canada are expected to grow in 2019 to £6.5m, an increase of 35% on the previous year, while in the US 2019 income is expected to be around £6.7m, up by 131% on the previous year, and if achieved will represent a combined 71% increase in total revenues in the Americas.
STATS has expanded into larger premises in Edmonton, Canada, and is now manufacturing and assembling a range of its patented isolation tools in-country for sale to clients, in addition to being available on a project basis.
Stephen Rawlinson, STATS Regional Director for Americas region, said: “We now have in place the infrastructure to support an increase in product sales.”
STATS success in Canada has been mirrored in onshore US projects and Gulf of Mexico scopes with the Houston team, led by President and General Manager Scott McNae, expected to substantially increase its local workforce by the end of 2019.
A buoyant US market, where clients are upgrading infrastructure to improve output or replacing ageing infrastructure, has opened up new opportunities for STATS in the Mid/Northern US states and in downstream Gulf of Mexico projects.
Scott McNae said: “The market is in good health and we have been able to respond to this buoyancy by supporting small to large diameter pipeline projects with technologies which offer more robust isolations than previously available.