AN engineering company is aiming for a major breakthrough in the US market after being bought by a leading international company.
Pipeline Engineering, which employs 175 people at its North Yorkshire headquarters, as well as a further 15 globally, has become part of US-based engineering firm Circor International.
The company, in Catterick Bridge, near Richmond, is a world leader in pipeline cleaning and inspection products and services for the oil and gas industry.
It has achieved an annual turnover of about £20m, after growing 25 per cent year on year.
Last night, Pipeline Engineering’s managing director Willy Watson said: “We had reached a plateau, and in order to grow further in the international market place we needed help to do that.
“We have got huge potential worldwide, but for a relatively small company like ours it is very difficult to address a worldwide market place, if you want to go to the next level.”
Mr Watson hoped the deal, for an undisclosed sum, would see it making significant inroads in the US market. It is already an industry leader in Europe, the Middle East, Africa and the Asia Pacific region.
Mr Watson said: “It will take us into the North American market, where we don’t do business at the moment, which could increase our business by 50 per cent and increase opportunities for us as a company.”
The firm will work closely with Circor’s subsidiary Sagebrush Pipeline Equipment Company in Tulsa, which provides complementary services, and manufacture products for Circor, which has annual sales of about $800m, in North Yorkshire.
Mr Watson said the growth of the business could hopefully see it take on more staff, but added: “It provides security for our existing staff, which is important to me.”
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