KRG Engineering (KRG), a turnkey precision engineering specialist, has announced its ambitious global growth plan for the oil and gas sector. The company aims to grow turnover by 20% annually for the next 5 years by expanding its oil and gas, rail, defence and FMCG presence and diversifying into renewables.
The announcement follows the initiation of a GBP 2 million investment programme into new equipment and technology to offer leading engineering and machining capabilities to critical industries. In addition, the diversification is underpinned by the strategic appointment of John Houston as Business Development Manager to spearhead KRG’s aerospace, defence and renewables offering. Houston brings extensive experience in aerospace and defence engineering, having held a number of senior operations and customer delivery roles.
Gerry Hughes, CEO at KRG says, “As global economies look to infrastructure and other critical industries to build back better, we can play a vital role in ensuring robust, reliable components. In these industries, the integrity of a single part can lead to downtime, which significantly impacts the entire operation. Every engineered element is essential and having served the oil and gas sector for over 40 years, we have the knowledge and expertise to manufacture components from subsea trees to downhole drilling equipment.”
“The vision marks another milestone for the Scottish business’ success story. Founded in the 1970s, the family company has a 40-year track record in precision engineering, manufacturing, assembly and testing of critical components. Previously part of controls technology provider, Proserv, the company is now backed by GIL Investments. KRG owns a 20,000 square metre state-of-the-art facility in Coatbridge servicing customers including food manufacturers, the MoD and tier one OEMs in the oil and gas space,” Hughes continues.
Hughes adds, “This is the time to realise our potential and to do that, we want to reinvest into the untapped engineering talent we have in Scotland to solve safety and uptime challenges. By housing all our capabilities under one roof, we offer customers in the oil and gas industry an end-to-end solution to reduce costs and interfaces while improving quality and reliability.”
KRG currently employs more than 90 people in Scotland and has delivered projects in Europe, The Americas and Asia Pacific.