ACE Winches has announced a restructuring plan which will see approximately 16 redundancies across several departments at its headquarters in Turriff, Aberdeenshire.
A statement from the company explained that "as the business transitions itself to address new markets and new geographies to compete within the changing energy sector", the new strategy will provide a "strong platform" for the future.
"However, as part of this process, we must regrettably consider potential redundancies - this decision has not been taken lightly."
Around 155 people are currently employed at the Aberdeenshire base.
At the moment, these proposals are only at a formative stage, and ACE Winches will now begin a process of consultation.
In November, Balmoral Group sold its shareholding in ACE Winches to a company led by ACE’s founder and former chief executive Alfie Cheyne.
As part of Balmoral’s share purchases in 2017 and 2019, the Cheyne family had an option to buy back Balmoral Group’s investment.
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