An Arbroath manufacturing firm has been taken over by US energy giant Axon in a move that looks set to create jobs for the town.
Mechserv Ltd in Kirkton Industrial Estate has become part of the company’s subsidiary arm Axon Well Intervention Products Holdings (AWIP), which designs and builds equipment for the oil and gas industry.
Former owner of the company, Mike Craig, has now been appointed managing director of AWIP for Europe and the Middle East.
He claimed the deal will bring added stability to the company at a time when economic conditions were creating uncertainty for the sector.
He said, “One of the reasons we did it was for the future of the staff. In these uncertain times we wanted to make sure we would be in a position to take work on and this has given us the stability we were looking for.
“We have six apprentices on the books just now and that has always been something we have pushed for over the 10 or 11 years we have been going.Opportunity”They will now have the chance to go out and work in any of the bases in Houston, Edmonton, France or Abu Dhabi so it is a great opportunity for them.”
The existing management team will be kept on as the skills sets already in place line up with those required by the new owners.
Plans are in place for expansion in Arbroath, but it has yet to be confirmed how many jobs will be created as a result.
Mechserv’s Dubai operation has also become part of Houston-based AWIP.
Axon chief executive officer Gary Stratulate said, “Mechserv is an excellent addition to our existing well intervention operations in Texas and Norway.
“The company’s high-quality operations will expand our service and support to customers operating in Europe and the Middle East by providing the ability to manufacture, refurbish and service our products in Scotland and the Middle East.”