News

One of Scotland’s most successful companies is eagerly eyeing new opportunities at home and around the world after joining forces with a leading Japanese multi-national corporation.

The Global Energy Group is confident its alliance with Mitsui & Co., Ltd, revealed today (Monday 16 April, 2012), will open an exciting new chapter in the success story that has seen the family-run business develop in less than a decade into a multi-million pound international concern employing thousands of people.

At a media conference in Aberdeen, attended by Mitsui’s Chief Executive Officer for Europe, Africa and the Middle East, Mr Noriaki Sakamoto, their European Senior Vice President, Mr Noboru Katsu and Global’s founder and chairman, Mr Roy MacGregor, it was announced that the Japanese firm has taken a 25 per cent equity shareholding in the energy industry services group, through its head office for Europe, Africa and the Middle East, Mitsui & Co. Europe PLC.

The undisclosed investment and new “industrial partnership” will reinforce Global’s ability to continue pursuing its robust strategy of expansion and acquisitions in the UK and other markets.  A key element of that continuing growth will be the realisation, with Mitsui, of the huge potential of the multi-sector energy park being developed by Global at Nigg, in the Scottish Highlands.

Mr MacGregor said:  “This is a hugely important step for the Global Energy Group, which we are confident will help us to continue to develop and elevate our business to new levels.  We are very excited by the new opportunities we know will open to us in the UK and internationally through working together with a
multi-national company of the standing of Mitsui.

“As a Scottish company, we are passionately proud of the contribution we make to the country’s economy,
the jobs we create and the training we deliver.  We believe this new chapter in our development will see us
build on our strong track record by creating more job and career opportunities and bringing new skills and
knowledge to Scotland.”

Mr MacGregor explained that Mitsui and Global were already well acquainted with each other with a
considerable history of working together successfully on projects.

He continued:  “We have been working with Mitsui for many years.  Their interest in taking this 25 per
cent shareholding in the company is testament to the skill, hard work and positive attitude of our people and to
Global’s standing in the international energy industry.

“The chemistry between us is extremely good and I have absolutely no doubt this alliance will add value
to our business and Mitsui’s investment will assist us in the delivery of both our home and international
business plans.

“There are strong indications of substantial increases in activity in the energy industry over the coming years. We firmly believe that in this partnership we can go a very long way towards meeting the demand for UK-based construction for offshore infrastructure and related services that is currently being met overseas. However, it is important to say it will be business as usual for Global and our people in continuing to deliver quality service to our existing and new clients in us going forward.”

Founded in 1876 and headquartered in Tokyo, Mitsui is one of the world’s most diversified comprehensive
trading, investment and service companies, with a world-wide network of 154 offices in 67 countries and
15 business units ranging from shipping and aerospace to chemicals and steel.  The partnership will see
Mitsui have two places on the Global Energy Group’s board of directors.

Mr Katsu said Mitsui was looking forward to working with Global as an industrial partner to continue the
Scottish company’s growth and development.

He said:  “I am happy our investment will assist Global in their exciting expansion plans at home and
internationally and this is great news for the Scottish economy. We do not see this investment as purely
Mitsui taking an equity share in the business, but rather we see ourselves as an industrial partner to aid
the industrial growth of Global both at home in Scotland, the UK and on an international basis.”

“The highlight of this partnership is that it will create further business opportunities, but I also
firmly believe Mitsui can learn from Global in many other ways including how local stakeholders
in the community can benefit from such inward investments.”

“Mitsui and Global have always had a strong working relationship but the process of planning this
investment highlighted the opportunities for us both and demonstrated how the chemistry between
our people seemed right for us to work closer together.”

The Global Energy Group was founded in 2005 and has head offices in Aberdeen and Inverness.
Organic growth and strategic acquisitions have seen the group develop into a highly successful international company and one of Scotland’s leading employers, with a workforce of more than 4,300.

Last October Global completed the purchase of the former North Sea Oil fabrication facility at Nigg,
on the Cromarty Firth; a key strategic site for the energy industry in Scotland and one of the largest
facilities of its kind in Europe.

The company is transforming the 238-acre site, renamed Nigg Energy Park, into a modern, multi-user
facility serving a range of energy sectors, including oil gas and renewables.  Last month Scotland’s
First Minister Alex Salmond officially opened a new training facility at the park, which is being developed
by a public-private partnership to meet the skills requirements of the industry.

Nigg’s huge and historic dry dock is also operational once again, having been opened for the first
time in nearly a decade to admit a rig for an upgrade last month.

Click here for Mitsui background