Dundee manufacturer to invest in £1m site upgrade
A company that manufactures equipped for the oil and gas industry has announced nearly £1m of investment for Dundee.
PressureFab Group is to spend £935,000 upgrading its site in the city, creating 25 jobs over the next two years.
Scottish Enterprise have also given them a £250,000 Regional Selective Assistance grant.
The company said the move would allow them to compete internationally.
PressureFab now plans to purchase heavy duty plate forming and rolling machinery, as well as state of the art industrial coating and shot blasting facilities.
The firm said the new equipment will enable them to improve productivity with an aim to double capacity and production output.
Hermann Twickler, Managing Director of PressureFab Group, said: "This £935K investment package is urgently required to sustain further growth for the Group and to enable us to compete on the world market, as well as within the Scottish offshore sector.
"Since we moved into our Dundee facility two years ago, we have already created nearly 40 new jobs in Dundee.
"We are currently recruiting for several positions, including at least 10 welders, and hope to increase our staff numbers by more than 50% over the next two years."
Lena Wilson, chief executive of Scottish Enterprise said the RSA grant would help secure jobs in the area and support the company's plans for international growth.
She said: "PressureFab Group's ambitious outlook make it exactly the type of company we need to see more of in Scotland if we are to see strong economic recovery and future growth."