Nucore Group ends year with strong focus for 2021

Source: press release, 17 December 2020

Nucore Group provides critical services and support for the oil and gas, marine, renewables energy and petrochemical industries, as well as private and public sector customers
Nucore Group provides critical services and support for the oil and gas, marine, renewables energy and petrochemical industries, as well as private and public sector customers (photo: Nucore Group)

Nucore Group, a specialist engineering company providing integrated engineering solutions in hazardous environments, has announced ambitious growth plans for the coming year, as portfolio companies Oteac and HVAC & Refrigeration move to now operate within the single Group entity.

Recently published financial results report a growth in turnover to GBP 17.5 million for the year ended 31/12/19, with associated gross profit rising to GBP 4.7 million. With a headcount of 127, the company continues to focus on global delivery of its market-leading capabilities to customers reliant on the safety and integrity of assets.

The new operational structure has been designed to enhance Nucore’s fully integrated offering to clients, and better align their delivery model with customers’ requirements, whilst retaining the expertise that 35 years’ trading brings. Group CEO Mark Fraser continues to lead the business.

Fraser says, “The alignment exercise is a positive step which allows us to grow and expand under the Nucore Group name, whilst retaining the strong reputation both Oteac and HVAC have built over the years. The challenges of 2020 have given this alignment impetus; it is vital now, more than ever, that our specialist teams can unite experience, capabilities and drive efficiency, ensuring our clients have assurance of safety and integrity of their global assets.”

“Long after we have survived the challenges of this global pandemic, our vision of committing to be the best-in-class provider of safety systems, engineering services and products will continue to drive our business forward. Our strategic roadmap has continued to evolve this year and the business has made significant steps towards achieving a strategy of diversification, both geographically and within new market sectors,” Fraser continues.