Aggreko, a Scottish based supplier for emergency power equipment, was able to avoid the economic downturn and is now reporting a staggering 28.7% rise in profits as demand for electrical equipment surges in the developing world.
Chief executive for the company, Rupert Soames also announced that the Glasgow-based company saw an increase in capital expenditure guidance from £20 million to £200m for 2010. This new capital will be used to build a multi-million pound facility in Dumbarton.
The new plant will help bring 113 jobs to the region as well as be a major expansion for the Clydeside town branch of the company. This is the location where a majority of Aggreko’s generators are designed and assembled.
For the 2009 fiscal year, Aggreko has posted profits totaling £245m, a huge increase from 2008’s figures which came in at £191.6m. Earlier in the month, Aggreko announced they won the contract to provide electricity equipment to stadiums in South Africa set to host the 2010 World Cup. The contract is estimated to be worth £30m.
Last year, the Scottish company supplied 56 countries with auxiliary power and this year has sealed major contracts for 360 megawatts of power for both Oman and Panama.
At present, Aggreko supplies Uganda with half its electricity, and this year will begin supplying Kenya with up to 15% of its power. The company also provides in Sri Lanka, and has been supplying generators to the armed forces in Iraq and Afghanistan.
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