The Port of Cromarty Firth has sold its equity holding in the Port of Cromarty Firth Services Ltd business to PSG Marine & Logistics Ltd for an undisclosed sum. All of the profits from the Port’s share in the sale will be reinvested back into the Trust Port to aid future development and growth, including projects such as the new Phase IV berth development.
Bob Buskie, Chief Executive of the Port of Cromarty Firth said: “The Port made an investment in Port of Cromarty Firth Services Ltd (PoCFS Ltd) when it was set up 3 years ago. As an open trust port, we saw an opportunity to improve the level of choice available for customers bringing projects to the Invergordon Service Base and increase opportunities for local companies.”
“The strategy was hugely successful and the Port of Cromarty Firth now offers a choice of engineering, inspection, maintenance and heavy lifting companies. This allows customers more choice and provides jobs through a wider range of companies.”
Steve Clark, Managing Director of PSG Marine & Logistics Ltd, commented: “We have a long history of working at the Port of Cromarty Firth. This acquisition fits well with our company’s long term growth strategy and we are delighted to return to Invergordon.”
Mr Buskie added: “PSG made a fair offer for the business, which all shareholders have agreed to accept. We look forward to working with the new owners to maintain the highest standards of safety, quality and choice that our customers have grown to expect from the Invergordon Service Base.”