Oct 16, 2015

0 comments Pacson Valves, the oil and gas service business, is examining growth opportunities after securing a £3 million refinancing package from Clydesdale Bank. Based in Dundee, where it operates from a 50,000sq ft manufacturing facility, Pacson supplies bespoke high integrity valves to the global oil and gas sector. The firm, which employs around 95 staff, designs, manufactures and tests surface valves, subsea valves and pressure-containing equipment. The company saysit prides itself on being at the cutting edge of product design and continues to commit significant funding to research and development. Loading article content It also maintains sales operations in key oil and gas producing countries including the US, Norway, Australia and Brazil. Turnover last year was £13.6 million, a rise from £12m in 2013. John McLaren, commercial director, said: “Conditions have been challenging but we’re confident we now have the banking products we require to support our long term growth strategy. “Like many companies in our sector we want to ensure we are fit for the future and ready to grow when the market improves. Now we have a more convenient and flexible product that will help to future-proof Pacson Valves and facilitate our growth aspirations.” Share article Andy Tait, director in Clydesdale Bank’s Aberdeen-based specialist and acquisition finance team, said: “We welcome the opportunity to work with Pacson Valves, an internationally-respected supplier, as it seeks to grow following difficult trading conditions. “As a bank we have extensive experience of working with oil and gas service firms and a deep understanding of the industry.” Promoted Stories