Big funding boost for TS Marine
ONE of Scotland’s fastest growing oil and gas services companies has secured a funding package worth £53 million as it taps into a global subsea market projected to be worth £20 billion annually in the next four years.
TS Marine, which is headquartered in Aberdeen and was founded less than four years ago, will use a chunk of the cash injection to accelerate its overseas expansion.
Already the firm has operations in Australia and Norway, a registered office in Singapore and representation through a joint venture in Nigeria.
Chief executive Alasdair Cowie said that while he had one eye on new territories such as Brazil, the key focus would be on bolstering the company’s existing operations. As a result, turnover is forecast to rise from an estimated £55m last year to more than £100m in 2009.
To read full article :
http://business.scotsman.com/business/53mfundingboostforTS.3723275.jp
Original source : The Scotsman
