Clarke Energy pushes into oil and gas markets
ENGINEERING firm Clarke Energy says it is set for global growth as it moves into the oil and gas sector.
The Knowsley group saw sales and profits soar last year, as its operations around the world continue to grow.
And chairman Jim Clarke said he expected the company to see more growth on the back of energy giant GE’s global expansion plans.
Clarke already supplies, installs and services GE Energy’s Jenbacher gas engines, for firms in the energy sector.
And Mr Clarke said GE’s purchase of US gas engine manufacturer Waukesha offered new opportunities to his company.
He said: “They (GE) are looking for a serious increase in market share and they are adding their range of Waukesha product to the portfolio of our companies around the world.
“We have already been appointed Waukesha distributor in India, and have employed 85 new employees to handle the new product. We have been advised by GE that we will be appointed Waukesha distributor early in 2012 in our other areas of operation.
“The Waukesha product is aimed at the oil and gas industry (rather than our present power generation market) and this is an exciting new opportunity for us, especially in North Africa.
“We are also planning to open Jenbacher distributorships in new countries as opportunities arise.
“These exciting new developments will create additional revenue and compensate for any unavoidable dip due to problems in the wider economy.
“We continue to look to the future with confidence and expect growth despite the current general downturn.”
For the year ending October 31, Clarke Energy saw sales rise 36% to £201m, helping pre-tax profits rise 39% to £11.3m.
Mr Clarke said: “I expect next year to be another good one. Our order book and work in progress remain strong, and we have some exciting new opportunities on the horizon.”
Clarke’s sister company, Clarke Telecom, which builds infrastructure for mobile phone networks, saw sales rise 28% to £31.8m – though pre-tax profits fell 29% to £1.8m.