KRG Engineering (KRG), a turnkey precision engineering specialist, has announced plans to expand its presence in the oil and gas sector, while diversifying into renewables as well.
KRG said it aims to grow turnover by 20% annually for the next five years by expanding its oil and gas, rail, defence and FMCG presence and diversifying into renewables.
The announcement follows the initiation of a £2 million investment programme into new equipment and technology to offer leading engineering and machining capabilities to critical industries.
In addition, the diversification is underpinned by the strategic appointment of John Houston as Business Development Manager to spearhead KRG’s aerospace, defence and renewables offering.
Houston brings extensive experience in aerospace and defence engineering, having held a number of senior operations and customer delivery roles.
Gerry Hughes, CEO at KRG said: “As global economies look to infrastructure and other critical industries to build back better, we can play a vital role in ensuring robust, reliable components. In these industries, the integrity of a single part can lead to downtime, which significantly impacts the entire operation. Every engineered element is essential and having served the oil and gas sector for over 40 years, we have the knowledge and expertise to manufacture components from subsea trees to downhole drilling equipment”.
Previously part of controls technology provider, Proserv, the company is now backed by GIL Investments. KRG owns a 20,000 square metre facility in Coatbridge servicing customers including food manufacturers, the Ministry of Defence, and tier one OEMs in the oil and gas space.