Ross County chairman sells three firms to Mitsui of Japan
The value of the deal was not disclosed. But it represents Matsui's first big investment in a major Scottish ports facility which will pave the way for 'significant new investment' at Nigg, supporting long-term skilled employment and economic growth in the Highlands.
Mitsui has been an investor in Mr MacGregor's GEG (Holding) since 2012, when it acquired a 25.5% stake, and has since been a 'valued shareholder and strategic partner' in its growth. Mitsui will own 51% and MOL 49% of the three companies further to the acquisition.
Following the divestment of the three business units, GEG (Holding), operating as Global Energy Group, will continue to offer services at The Port of Nigg through its supply chain companies Global Port Services, Global Crane Services, and Global Wind Projects, and supply labour on a project-by-project basis. Apollo, the Aberdeen headquartered energy engineering company, also remains part of the Global Energy Group portfolio.
GEG (Holding) will retain the rights to the Global Energy Group name and continue to operate its businesses from locations such as The Port of Nigg and Invergordon Port Facility. It will retain its offices in Inverness, [[Aberdeen]], and Edinburgh.
Mr MacGregor said: 'We are hugely proud to be passing on the baton at The Port of Nigg having spent much of the last decade establishing it as a truly world class multi-energy facility. Having worked closely with our trusted investor, Mitsui, since 2012 we believe the time is right to let them drive the next stage of development at Nigg - and we believe they are the correct custodian for a facility that provides so much employment and prosperity for the Highlands.
'Under their guidance the port will continue to grow and develop - providing long term, secure, skilled employment opportunities for generations to come, as well as driving Scotland's energy transition. We look forward to continuing to work with them through our companies that service and deliver projects at the port, including Global Port Services, Global Crane Services, Global Wind Projects.'
Speaking on behalf of Mitsui & Co, Makoto Takasugi, chief operating officer of Iron & Steel Products Business Unit, said: 'We are privileged to take on the stewardship of The Port of Nigg and the associated energy services businesses, building on the strong foundations developed by Roy MacGregor and the Global Energy Group team. For over 13 years, as a shareholder and board member, we have witnessed the impressive growth of Global Energy Group and the strategic importance of Nigg in the UK's energy industry.
'We look forward to carrying forward that legacy, working with the skilled local teams across the three companies for years to come - servicing the huge demand for offshore wind power - as we grow our role in energy transformation across Scotland, the UK and Europe.'
Speaking on behalf of Mitsui OSK Lines, Masayuki Sugiyama, managing executive officer said: 'We are delighted to announce our participation in The Port of Nigg and its associated energy services businesses, forged through years of dedication by Roy MacGregor and the team. We extend our deepest respect for their unwavering commitment.
'The Port of Nigg plays an indispensable role in the UK's energy transition, particularly in offshore wind, and holds substantial potential for future growth. In partnership with Mitsui, which has supported Global Energy Group for the past 13 years, we are fully committed to leveraging our expertise and experience in maritime operations to contribute to the long-term development of the Highlands and to accelerate a more sustainable future.'
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