Eighty-eight north and north-east jobs have been saved after industrial cleaning and environmental-waste management specialist MSIS plunged into administration and was swiftly acquired by a local rival.
MSIS said yesterday it was on track to rapidly grow its share of the global oil and gas environmental services market after a near-£1million investment in expansion during its last full trading year.
Inverurie and Invergordon-based oil and gas waste management group MS Industrial Services (MSIS) slid into the red during the 18 months to June 30, 2016.
MSIS has strengthened its board with the appointment of a new non-executive chairman. John Forrest will join the team this month after more than 35 years in the upstream oil and gas industry. He is currently chairman of PDG Helicopters and Task Fronterra and has provided board-level leadership to a number of companies.
MSIS has invested more than £1million in its rental fleet and a new facility in Aberdeenshire. The 17,500 square foot base within the Kirkwood Commercial Park in Inverurie comprises a workshop, yard and warehouse.