Aberdeen-based subsea cable and connector specialist Hydro Group, has expanded its premises by investing £2million in a new 13,700 sq ft bespoke facility, set to open in spring 2016.
The company currently occupies a 45,500 sq ft facility at the Aberdeen Energy Park, purchasing the additional 0.63 acres of development land from Buccleuch Property and Moorfield Group (Buccmoor LP) to enable it to expand operations and develop a brand new workshop with mezzanine deck.
Doug Whyte, Hydro Group Managing Director, said: “The new facility and additional space was required in order to diversify and develop our business. It has been a significant investment for the future of our company, helping us to open up new business opportunities and deliver major growth plans for the company.”
Hydro Group, an Energy Park occupier since 2008, designs and manufactures underwater cables and connectors for subsea, underwater, topside and onshore applications. The company, one of very few in the UK that offers this technology, will use the space to install its new armouring line, facilitate a pressure testing area, and for additional storage.
The development follows on from a £300,000 investment last year in the advanced armour line, which extended Hydro Group’s product capabilities, enabling it to offer cable products to improve and support subsea operations.
“We are now able to manufacture mechanically protected cables which can withstand higher stresses in subsea and defence operations, and the extra space means that we can also offer greater capacity in size and overall lengths,” concluded Mr Whyte.
Speaking on behalf of the Park’s owner, Moorfield Real Estate Fund III, Mark Holmes from Moorfield Group said: “It is very encouraging to see Hydro Group diversify and expand operations here at Aberdeen Energy Park. We were pleased to be able to facilitate the sale of development land which was available adjacent to the company’s existing facility. We look forward to the business continuing to develop and prosper at the park.”
Doug Garden, partner of Knight Frank in Aberdeen, who advised Hydro Group, added: “Having project managed the original building for Hydro Group, it was pleasing to be involved once again in assisting Hydro Group with its further growth at Aberdeen Energy Park.”