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Sun 21 Oct 2007 05:14 PM

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Dominion acquires Global Gas in $45mn expansion

Dominion Gas expands its international portfolio.

Aberdeen-based Dominion Gas, a supplier of industrial gases to the offshore industry, recently announced the acquisition of Global Gas Supplies.

"Because we set ourselves up as an oil field service company, rather than a gas company, we have a 24/7 mind set, and put ourselves into our clients shoes in terms of creating value, and mitigating any unnecessary risks," said George Yule, chief executive of Dominion Gas.

"There is also a busy work load associated with the integration of Global Gas into Dominion Gas. But we are hoping that the removal of the Global Gas name will ease some of the confusion between the two companies," he added.

Dominion is already Scotland's biggest independent supplier of industrial gas products to the offshore industry. The £22 million (US $44 million) cash deal is likely to accelerate the firm's overseas expansion plans, as it tries to gain a presence on the ground in West Africa, Azerbaijan and Singapore following the deal.

"In the very near future we also have plans to increase our presence in South East Asia and Singapore. We are in discussions of doing some diligence with Dubai as a hub, but it is still in the early stages. We can't get deluded, the company has grown from one facility 15 months ago in Aberdeen, to now having six facilities worldwide - it's grown very rapidly," said Yule.

Dominion Gas currently employs 52 people worldwide, with the merger of the two firms increasing the global workforce to 70, 45 of whom will be employed in Aberdeen. "The new site we are currently building in Aberdeen will incorporate what I call a ‘training academy', it will be a competency development area for both new staff, and staff development as well," he added.

Dominion supplies a full range of diving, welding, industrial, laboratory, test and calibration gases to the oil and gas trade, "The industry is putting a lot of challenges on various supply chains - Dominion has responded responsibly and positively in making significant investments back in to the company and the industry," said Yule.

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