Dominion Gas, the only Scottish based industrial cylinder gas specialist supplying a full range of diving, welding, industrial, laboratory, test and calibration gases, has announced investment of £2.5million to secure additional assets in support of its projected growth plan in both the UK, and internationally.
The deal sees the firm purchase a number of liquid helium transportation tankers from Gardner Cryogenics in the US and will provide Dominion Gas with increased flexibility to collect and deliver liquid helium supplies, while also ensuring that the company preserves its supply chain volumes in the currently rigid helium market world-wide.
A well documented worldwide shortage of helium has seen a sharp rise in prices in most markets, including the offshore diving gas industry, and this announcement from the Scottish group confirms its desire to address the issue.
George Yule, Dominion Gas Chief Executive, explains, “This investment by Dominion Gas demonstrates to our client base our willingness and capability to react positively to the current challenges of the World Helium Deficit. Dominion Gas and its main investor Graphite Capital are committed to a program of expansion across the Group in pursuit of our business objectives both here in the mature North Sea and overseas markets too.”
Yule continued, “The current climate of helium shortage is expected to continue into 2009 - until additional supply is made available sources are raising their costs which in turn flow down to the end user. Dominion Gas is dedicated to enhancing its current helium supply links.”
Included in the investment is the purchase of gas containment cylinders and ‘quads’ used to transport offshore cylinder gases.
Dominion Gas has 2 gas filling stations in Aberdeen, 2 in Norway, 1 in Baku and Singapore and offices in West Africa. Future plans for the company are noted as including an expansion of the facilities in Aberdeen, with the aim of creating a world class head quarters with fully accredited lab facilities, state-of-the-art gas filling plant and an on-site gas technician training academy.