ENGINEERING company Nucore Group has announced ambitious growth plans for the coming year and a restructuring.
Portfolio companies Oteac and HVAC & Refrigeration will be merged under the Nucore brand.
Subscribe to our daily newsletter
Why? Free to subscribe, no paywall, daily business news digest.
The announcement came as the firm published its latest financial results which saw a growth in turnover to £17.5million for the year, with associated gross profit rising to £4.7million.
Mark Fraser, group chief executive officer, said: “The alignment exercise is a positive step which allows us to grow and expand under the Nucore Group name, whilst retaining the strong reputation both Oteac and HVAC have built over the years.
“The challenges of 2020 have given this alignment impetus; it is vital now, more than ever, that our specialist teams can unite experience, capabilities and drive efficiency, ensuring our clients have assurance of safety and integrity of their global assets.
“Long after we have survived the challenges of this global pandemic, our vision of committing to be the best-in-class provider of safety systems, engineering services and products will continue to drive our business forward.
“Our strategic roadmap has continued to evolve this year and the business has made significant steps towards achieving a strategy of diversification, both geographically and within new market sectors.”
