Scotland-based KRG Engineering has revealed plans to diversify into renewables to support its aim to grow turnover by 20% annually for the next five years.
The announcement follows the initiation of a £2m investment programme into new equipment and technology to offer leading engineering and machining capabilities to critical industries.
In addition, the diversification is underpinned by the strategic appointment of John Houston as business development manager to head up KRG’s aerospace, defence and renewables offering.
KRG CEO Gerry Hughes said: “As global economies look to infrastructure and other critical industries to build back better, we can play a vital role in ensuring robust, reliable components.
“In these industries, the integrity of a single part can lead to downtime, which significantly impacts the entire operation.
“Our components are used on some of the most complex oil and gas equipment, so we have the skills and knowledge to support the offshore renewables sector, including the wind supply chain.”
“This is the time to realise our potential and to do that, we want to reinvest into the untapped engineering talent we have in Scotland to solve safety and uptime challenges.
“By housing all our capabilities under one roof, we offer customers in the renewables industry an end-to-end solution to reduce costs and interfaces while improving quality and reliability.”