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Balmoral Offshore Engineering success at international awards

The annual Sunday Times International Track 100 national awards dinner was held recently (28 June 2011 at the Jumeirah Carlton Tower) in London.

Despite difficult trading conditions, the 100 companies' international sales grew by an average of 91% a year over two years to a total of £1.6bn. International sales growth ranged from 50% pa to 418% pa.

The vast majority of companies sell to mainland Europe (96), making it the most popular overseas market, followed by Asia (68) and North America (66). More than half the companies trade on four or more continents. The top countries for exports are the USA (64), Germany (57) and France (53).

Four companies from Scotland made the list compared to six last year. These organisations have made a significant contribution to the Scottish economy over the last two years, despite the downturn.

During this time they added 478 jobs and now employ a total of 1,617 people. Their combined sales are £345m and their international sales have grown by an average of 72% a year over two years to a total of £148m.

Aberdeen-based subsea buoyancy, insulation and elastomer product specialist, Balmoral Offshore Engineering saw an increase of 82% in international sales during the period 2010-11 improving its Fast Track ranking from 45 to 39.

Additionally, the company received a special award for Excellence in Emerging Markets in recognition of an improved export performance to South America, Africa and Asia and, on what topped a successful night for the company, it also received the Global Strategy Award runners-up prize.

Jim Milne, founder and chairman of Balmoral Group, said: “I was delighted to collect these awards on behalf of everyone at the company. We have worked tirelessly to achieve the success now being enjoyed.

“The awards are due recognition of the application of our people and their technological and engineering expertise. We plan to maintain this trend as our programme of investment in design capability and manufacturing facilities continues which includes our new plant in Brazil that’s due to open in 2012.”

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