05.09.2004

Buyer found for Offshore Crane Engineering

The Joint Provisional Liquidators of Aberdeen- based Offshore Crane Engineering Ltd, Blair Nimmo and Neil Armour of KPMG Corporate Recovery, have announced today the sale of the business and assets of the company to TSI (Crane) Ltd, a new subsidiary of TSI (UK) Limited. The deal comes barely two weeks after the company failed (see Vertikal.Net August 24th) and will preserve 52 jobs.

“We are delighted that we have been able to achieve a quick sale of this business as a going concern, saving a number of local jobs in the process.” said Blair Nimmo, Joint Provisional Liquidator and Head of KPMG Corporate Recovery in Scotland:

Maureen Hepburn, Managing Director of TSI (UK) Ltd said:
“TSI is delighted with this acquisition since it further enhances the quality service offering of the TSI group to the oil and gas market. The new company is retaining key personnel with many years experience of the crane service sector and aims to return to ‘business as usual’ as soon as possible for the benefit of customers, suppliers and staff.”

Bob Glatley, former Chairman of Offshore Crane Engineering Ltd said:“It was obviously a sad day when the old company went into provisional liquidation but I firmly believe that this new company will flourish under TSI's wing and I look forward to working with the business to continue to give the industry ‘best in class’ service.”

TSI “Transfer Systems International”, based in Inverurie and Blackburn in the Aberdeen area, employs 75 and specializes in filtration and drill cuttings containment for the offshore industry and is privately owned.