Oil and gas services firm Integrity XL has invested £1 million in two new liquid nitrogen pumps with help from a Scottish Government loan.
The Aberdeen-based business will use the new equipment bought from Prior Diesel to target more offshore asset shutdown and maintenance contracts. It received £350,000 of finance through the Scottish Loan Scheme (SLS), part of the Scottish Government’s Scottish Growth Scheme, which is administered by the Scottish Investment Bank.
Integrity XL, which is part of Aberdeen-headquartered international engineering firm XL Group, aims to double both its turnover and the size of its workforce by the end of 2020.
Managing director Stuart Charles Sinclair said: “Thanks to the financial assistance provided by the Scottish Loan Scheme and the XL Group we are firmly on track to fulfil our strategic growth aspirations for the business this year.”
Scottish Investment Bank director Kerry Sharp said: “Having secured several new contracts in a diverse range of sectors in 2019, 2020 is already shaping up to be another exciting year for Integrity XL. The acquisition of the pumps will help the company sharpen its services and has the potential to create a new revenue stream via the rental market.”
