Drilling company beating slump with pounds 1.5m deals.Byline: Peter McCusker A DRILLING company has secured new contracts worth pounds 1.5m which will help boost staff numbers and annual turnover. The main area of work for Drilcorp, which is based at Hawthorn, near Peterlee, East Durham, is drilling for water and it has a number of blue chip clients throughout the UK. It has now secured contracts for the London Underground The London Underground is an underground railway system - also known as a rapid transit system - that serves a large part of Greater London, United Kingdom and some neighbouring areas. It is the world's oldest underground system, and is one of the longest in terms of route length. and Coal Mine Gas Recovery worth pounds 1.5m, resulting in the safeguarding of jobs and the recruitment of additional staff to its existing 32. Drilcorp chief executive Dave Gowans said: "Despite the current economic downturn, we have experienced a very successful year. The two recent contracts we have won relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the burgeoning renewable industry are worth over pounds 1.5m." Mr Gowans, who has drilled for minerals from gold to diamonds across the globe, said: "We have recently invested pounds 800,000 in new drilling equipment and currently have a pounds 2m order book. Within five years, I can see us hitting a pounds 10m turnover figure and employing 45 staff." With developments in London now having to generate at least 10% of their power from renewable sources, Mr Gowans says the company is well placed for further growth. They opened an office near Basildon in Essex earlier this month. The high-profile jobs it has undertaken in London include work at the Royal Festival Hall The Royal Festival Hall is a concert, dance and talks venue within Southbank Centre in London, England. It is situated on the South Bank of the River Thames, not far from Hungerford Bridge. , the London School of Economics The School is a member of the Russell Group, the European University Association, Association of Commonwealth Universities, the Community of European Management Schools and International Companies, The Association of Professional Schools of International Affairs as well as the Golden and Kew Gardens. The company's annual turnover for 2008 reached pounds 3.7m and while it is expected to be flat this year, Mr Gowans is aiming for sales of pounds 10m within five years. As well as the new London office, the company has a base in Leeds and is also considering a move into Scotland. Mr Gowans added: "A lot of businesses do not have water supplies and we help them put in high-pressure systems. "Our clients also include hospitals and golf courses and we also carry out de-watering work for construction projects. We have recently invested pounds 800,000 in new drilling equipment." |
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