LANARKSHIRE-based KRG Engineering has launched a £2 million push for growth in sectors such as oil and gas and aims to create 30 skilled manufacturing jobs in coming months.

The company hopes to grow turnover by 20 per cent annually for the next five years by expanding in sectors such as oil and gas and rail, and moving into renewables.

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KRG, which has its head office in Coatbridge, produces specialised components to order.

The company is confident that it can harness the skills of its workforce to underpin the efficiency of customer’ operations amid the challenges posed by the pandemic.

“As global economies look to infrastructure and other critical industries to build back better, we can play a vital role in ensuring robust, reliable components,” said chief executive Gerry Hughes.

“In these industries, the integrity of a single part can lead to downtime, which significantly impacts the entire operation.”

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KRG employs around 90 people in Scotland. A spokesperson for the company said KRG’s investment plan is to create career paths for the next generation with the aim of creating an additional 30 highly skilled manufacturing jobs by the end of 2023. The company has around £10 million turnover.

It was acquired in 2019 by Warwickshire-based GIL Investments, which specialises in the industrials and manufacturing sectors.