JAPANESE corporation Mitsui has taken a 25% stake in Global Energy Group (GEG) in what is believed to be a multimillion-pound deal.
The MacGregor family, including Ross County Football Club and GEG chairman Roy MacGregor, will continue to hold the majority shareholding in the business.
The investment terms of the agreement have not been revealed.
The intention is for Mitsui to help expand GEG's manufacturing work for the oil and gas and renewable energy industries.
Mr MacGregor said: "The chemistry between us is extremely good and I have no doubt this alliance will add value to our business and Mitsui's investment will assist us in the delivery of both our home and international business plans.
"We believe this new chapter in our development will see us build on our strong track record by creating more job and career opportunities and bringing new skills and knowledge to Scotland."
GEG employs 4300 around the world but has its main offices in Inverness and Aberdeen.
It also owns the Nigg fabrication yard in Easter Ross.
Two executives from Tokyo-based Mitsui, which has 154 offices across 67 countries, will join GEG's board of directors.
Mitsui's European senior vice president Noboru Katsu said: "We do not see this investment as purely Mitsui taking an equity share in the business, but rather we see ourselves as an industrial partner to aid the industrial growth of Global."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article