Significant new investment in infrastructure and manufacturing at Nigg in the Scottish Highlands is expected under its new Japanese owners.
Global Energy Group (GEG) has reached an agreement on the sale of three of its group companies, including the Port of Nigg, to long term investor Mitsui & Co Europe Ltd, 聽together with Mitsui OSK Lines Ltd (MOL).
The acquisition includes the Port of Nigg, a multi-sector energy port and green freeport, as well as聽聽聽聽聽聽聽聽聽聽聽 Global Energy (Fabrication), a multi-site fabrication and manufacturing business, and Global Energy Services, which provides scaffolding and access equipment.
Mitsui first invested in Roy MacGregor鈥檚 GEG (Holding) Limited in 2012, taking a 25.5% stake. Post acquisition, Mitsui will own 51% and MOL 49% of the three companies.
Mitsui has committed to further investing in the Port of Nigg, including expanding manufacturing capacity and quayside infrastructure to meet growing demand from a range of energy services sectors both for the oil and gas and offshore wind markets.
Following the divestment of the three business units, Roy MacGregor鈥檚 Inverness-based GEG (Holding) Limited, which operates as Global Energy Group, will continue to offer services at the Port of Nigg through Global Port Services, Global Crane Services, and Global Wind Projects, as well as the supply of labour on a project-by-project basis. The Aberdeen headquartered energy engineering company, Apollo, also remains part of the Global Energy Group portfolio.
GEG (Holding) Limited will retain the rights to the Global Energy Group name and will continue to operate from locations including the Port of Nigg, Invergordon Port Facility, as well as retaining offices in Inverness, Aberdeen and Edinburgh.
Roy MacGregor said: 鈥淲e are hugely proud to be passing on the baton at the Port of Nigg having spent much of the last decade establishing it as a truly world class multi energy facility. Having worked closely with our trusted investor, Mitsui, since 2012 we believe the time is right to let them drive the next stage of development at Nigg - and we believe they are the correct custodian for a facility that provides so much employment and prosperity for the Highlands.
鈥淯nder their guidance the port will continue to grow and develop 鈥� providing long term, secure, skilled employment opportunities for generations to come, as well as driving Scotland鈥檚 energy transition. We look forward to continuing to work with them through our companies that service and deliver projects at the port, including Global Port Services, Global Crane Services, Global Wind Projects.鈥�
MOL managing executive officer Masayuki Sugiyama said: 鈥淭he Port of Nigg plays an indispensable role in the UK鈥檚 energy transition, particularly in offshore wind, and holds substantial potential for future growth. In partnership with Mitsui, which has supported Global Energy Group for the past 13 years, we are fully committed to leveraging our expertise and experience in maritime operations to contribute to the long-term development of the Highlands and to accelerate a more sustainable future.鈥�
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