Zenith Oilfield Technology Limited is celebrating significant international growth with a move into new, purpose-built facilities.
The Inverurie-based company, which operates in the artificial lift sector of the international oil and gas industry, has reported 30% growth in 2009. Turnover, which has risen from £11 million to £14 million is almost exclusively derived from international operations.
The multi-million pound new purpose-built premises will see the company bring its three operations under one roof with space to accommodate further growth. The 1,500 square meter corporate building includes quality office accommodation and workshop facilities.
Formed in 2004, Zenith designs, develops, assembles and supports leading edge technology related to the gathering and analysis of downhole data and the design of completions equipment.
With 70 staff, Zenith's revenue is generated outwith the UK, principally in the Middle and Far East. In 2009 the company was awarded The Queen's Award for Enterprise for its achievements in international trade.
Zenith managing director, Greg Davie, is proud of what the company and its workforce have achieved in just five years. He said, "Our focus on international markets has resulted in significant growth despite the world-wide economic downturn. We now have operations in twelve overseas locations across the Middle-east, Far-east and South America. A large part of our success is down to a major investment in research and development and a strong global sales team."
Zenith invested £1.1 million during 2009 in R&D activity and is set to increase this in 2010.
Mr Davie added, "The investment in our new head-quarter offices provide us with modern facilities to accommodate all our staff and underlines our commitment to continued growth."
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