Balmoral Group owns more than a quarter of Ace Winches after the two north-east engineering firms struck a multimillion-pound deal, it emerged yesterday.
Two of the north-east of Scotland's best-known entrepreneurs have struck a £10million deal giving one of them a stake in the other’s business.
London Stock Exchange (LSE)’s new 1,000 Companies to Inspire Britain report celebrates the achievements of 25 Scottish firms and more than half of them are in the north and north-east.
Balmoral Group’s £10million investment in a new factory in Yorkshire is expected to create new employment opportunities in the area.
Annual awards celebrating the North Sea oil and gas industry’s resilience, despite monumental challenges, have a new category this year.
A former oil and gas industry boss and his family are pouring more than £1million into a new tourism business in Stonehaven.
North-east oil and gas service companies have made it onto a UK leaderboard of the fastest growing small- to medium-sized companies.
Balmoral Group has hailed an “industry first” as its subsea test centre carved deep into Aberdeen’s granite terrain nears completion. A second pressure vessel - thought to be the largest in Europe - will be installed at the Balmoral Subsea Test Centre this summer. Supported by bespoke software, the test centre offers Balmoral and external clients the ability to monitor procedures from anywhere in the world. When complete the facility will offer close to 20 test vessels in total. A smaller tank measuring 6ft x 23ft was installed in February, while the larger pressure test vessel which is nearing completion will measure 8ft x 29.5ft. Jim Milne, chairman and managing director of Balmoral said: “These new additions complement the wide range of test vessels that were previously available for third party use. “The facility offers a comprehensive range of hydrostatic and mechanical test procedures supported by bespoke software that allows remote monitoring from anywhere in the world, an industry ‘first’.” In another industry first, the firm has installed an elastomer manufacturing facility to produce 46ft polyurethane bend stiffeners that are used to add support to flexible pipes, umbilicals and cables. Balmoral has developed polyurethane using only ‘safe’ polymers that avoid the use of highly toxic materials, Balmoral’s technical team addressed the health and safety aspects of the industry by qualifying only ‘safe’ polymers that avoid the use of highly toxic materials and accredited by Bureau Veritas. Fraser Milne, projects and engineering director at Balmoral Offshore Engineering, said: “Our new manufacturing facility will increase production capacity to meet market demands for this product. “Balmoral products are put to the test in some of the toughest conditions in the industry. With much of our SURF-related products carrying BV certification to API standards, and a global track record that is second to none, clients can rest assured they are receiving not only the best product solution on the market but also the best possible technical advice available.” Jim Milne said it was great to bring news of the company’s multi-million pound investment to OTC: “While the industry is consolidating for the future we have taken the opportunity to invest in our people and our technology. “We are always seeking to maintain our competitive advantage in the market place and our commitment to technological improvement goes a long way towards that.”
The chairman and managing director of Aberdeen-based Balmoral Group, Jim Milne, is an enthusiastic veteran of the annual pilgrimage to OTC.
The polymer division of Balmoral Group has won funding to develop new materials for use in wave energy converters (WECs).
Growth in exports delivered a boost to Balmoral Group’s bottom line of in its 35th year of business.
Balmoral Group has vowed to launch an appeal after it was slapped with a £130,000 fine by the competition watchdog.
Multimillionaire Aberdeen businessman Jim Milne has added to an already impressive haul of honours by winning Entrepreneurial Scotland’s entrepreneur of the year title.
Firms across the North Sea oil and gas industry are already marking their diaries and making plans for the Offshore Technology Conference (OTC) 2017 in Houston, in the US.
Industry veteran Jim Milne CBE told the North Sea sector not to bury its head in the sand after collecting a lifetime achievement award at the second Press and Journal Gold Awards.
The chairman of Balmoral Group Jimmy Milne said the UK's economy is "robust enough" to hold its own in the world market, after the country voted by a close margin to exit the European Union.
Although I’m in danger of teaching grannies to suck eggs here, please bear with me… Design & Build (D&B) is a project delivery system used by the construction and related industries to deliver projects in which the design and construction services are contracted by a single entity known as the design & build contractor.
Hundreds of representatives of North Sea companies braved the downturn to attend the Offshore Technology Conference 2016 in Houston.
For anyone with an entrepreneurial spirit and a spirit of adventure, the opportunities in the 70s oil industry were limitless.
Balmoral Group chairman and managing director Jim Milne is toasting “another year of positive growth in turnover and profitability”. He was speaking after the Aberdeen engineering firm reported turnover growth of more than 25% to £79.06million in the year to March 31. Pre-tax profits were up by more than 13% to £4.56million, with Balmoral highlighting a 53% increase in operating profits to £6.18million.