PRESSUREFAB, the Dundee-based steel fabricator, more than doubled its profits last year as it won new orders from the oil and gas industry for its home-grown products.
The company, run by German master-manufacturer Hermann Twickler, increased profits to more than £800,000 on the back of a turnover jump from £2.8m to £5.7m, Mr Twickler said. Employee numbers grew from 45 to 95 during the company's year to the end of January, and are now at 100.
Mr Twickler said: "We managed to open new accounts as well as working closely with existing customers and increasing our revenues and profits that way. The profit margin was pretty much the same."
He said the year's highlight was a £1.5m contract in Aberdeen for oilfield supplier National Oilwell Varco and there was "a lot of interesting stuff" at lower values.
PressureFab is Scotland's only manufacturer of offshore containerised equipment. Founder Mr Twickler won last year's emerging entrepreneur award from the Entrepreneurial Exchange. He told The Herald earlier this year: "British manufacturing businesses are outsourcing far too much, it is an outsourcing culture to avoid investments; businesses need to invest in their people, their facilities and their equipment in order to be competitive. This is a classic example of short-term vision."
Mr Twickler said PressureFab's core container product was now competing successfully with lower-specification equipment that uses imported components assembled in the UK.
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