Invergordon, December 2008 – A leading north east logistics support company has completed the latest step in its capital investment programme with the acquisition of a new large capacity crane.
Port Services Group this week took receipt of a Demag TC2800-1, 1000-tonne class lattice boom heavy lift crane – one of only two cranes of its type in the UK – in a deal backed by funding from The Royal Bank of Scotland (RBS) and its asset finance division Lombard.
This investment boosts PSG's heavy crane division and will reinforce its position as a major UK player heavy lifting services for the offshore sector, which is its core market. Significantly, the new crane also gives the company the capacity to target new business in a range of other industries, including renewable energy, petrochemicals, rail, road and general construction. It will be based at the PSG depot in Aberdeen and will be on 24-hour standby for work throughout the UK.
Steve Clark, managing director of PSG, said: "This crane offers huge potential for us to diversify and effectively serve the heavy lifting requirements of a number of different industry sectors. We believe there will be large demand for a crane of this capacity, which can be deployed at short notice anywhere in the UK."
"The large reach and lifting capacity of this new crane will prove a major asset and will greatly enhance the scope of our operational capabilities and ensure a cost-effective and efficient service to customers."
The new crane is the largest in the range built by specialist German crane manufacturer Demag, which is one of the world’s leading suppliers of industrial cranes. The TC2800-1 crane offers enhanced operational flexibility that will ensure considerable time and cost savings during heavy lifting operations. A major advantage is the large outrigger base, which provides enhanced lifting capacities and maximum boom length.
David Scott, regional director of RBS Commercial Banking in Inverness said: "This is a great example of a company showing the ambition to make a significant investment in capital that will in turn enable significant business growth. With the continuing success of the North Sea oil and gas sector and an increasing amount of work to be won within the renewables sector, PSG is better placed than ever to benefit from this crane, which is expected to generate substantial new income streams."
Ian Galbraith, Lombard’s regional sales director in Scotland, added: "We are delighted to be supporting the continued growth and success of PSG in the North Sea oil and gas sector and the company’s expansion into new markets. Having the best assets gives PSG a real competitive edge that enables them to provide quality service and solutions to new and existing customers. In addition, being able to quickly move such a significant asset to support their customers' needs is a real differentiator in this market."
ENDS
For further information please contact:
David Gaffney, Senior Media Manager, RBS
Tel: 07766 133 484
Email: david.gaffney@rbs.co.uk
Notes to Editors
The Royal Bank of Scotland Group:
The RBS Group is one of the world's leading financial services companies providing a range of retail and corporate banking,
financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in over 50 countries
across Europe, the Americas, Asia and the Middle East serving more than 40 million customers and employing more than 170,000
people. The Group’s brands include RBS, NatWest, Ulster Bank, Coutts, Citizens and many other "household name" financial
services companies.
