Scottish Company Invests in Azerbaijan

Oil&Gas Materials 18 February 2008 18:49 (UTC +04:00)

Azerbaijan, Baku, 18 February / Trend / ATR Group, a north-east firm specializing in the rental of oil-field equipment, tools and products to offshore maintenance markets, said yesterday it had completed the initial investment stage for its first overseas operation.The company said it had spent almost half a million pounds on the site in Azerbaijan and recruited a team of 10 people.Director Robert Skidmore added: "The acquisition of an established business was an opportunity for ATR Group to fast track its plans for the Caspian and we have already doubled the workforce."

ATR's move into the Caspian came last September when it acquired Bridon International business in the Azeri capital, Baku.Aberdeen-based ATR was subject to a management buy-in last year and at the time announced plans to double its turnover in the next three years.Increasing international business was seen as a key to achieving that target.The group is planning other international offices in the near future and is currently looking at opportunities in north Africa, the middle-east and south-east Asia.