Latest news with #Grangemouth-based
The Courier
01-05-2025
- Business
- The Courier
Dundee's EQ announces third acquisition in 12 months
Dundee accountants EQ has announced its third acquisition in 12 months as its ambitious growth plans continue. EQ has merged with Edinburgh's McDonald Gordon & Co, as part of the company's strategy to triple turnover from £11 million to £30m over the next four years. The expanding firm has also announced four new partners as part of efforts to strengthen its leadership team. McDonald Gordon & Co was established in 1980 by Ian McDonald and the late Alan Gordon. Alan was a well-known figure both in business and Scottish football, having played for both Dundee and Dundee United, and Edinburgh's Hearts and Hibs. The 15 members of staff in Edinburgh will come under the EQ banner, who are looking to expand their presence in central Scotland. In the last year EQ has acquired a number of Scottish firms, including Douglas Home & Co and Grangemouth-based Yates & Co. They also have offices in Dundee, Forfar and Glenrothes EQ chief executive Craig Nicol said: 'Bringing McDonald Gordon & Co into EQ is a considered and strategic move that reflects our ongoing commitment to supporting Scotland's SME sector. 'Their long-standing reputation, loyal client base and shared values make them an ideal fit. 'This partnership enhances our reach across central Scotland and ensures more business owners have access to the depth of expertise and resource EQ can offer.' McDonald Gordan & Co was established in 1980, by the late Alan Gordon who had played for both Dundee and Dundee United. Raymond Paterson, director at McDonald Gordon & Co, commented: 'We took our time in choosing the right partner for the next chapter of our business. 'EQ stood out as a major player in the SME space, with values that align strongly with our own. 'Joining EQ gives us access to greater resources, specialist knowledge and the backing of a larger team, all of which will benefit our clients immensely.' Brian Duffy, director at McDonald Gordon & Co, added: 'This move isn't just about scale, it's about shared vision. 'EQ has the infrastructure and investment behind it to help us do even more for our clients, while preserving the close, personal service we've always delivered. 'We're excited about what's next.'
The Guardian
19-03-2025
- Business
- The Guardian
Scottish oil refinery could be turned into hub for green chemicals
There is a realistic chance that one of the UK's largest oil refineries can be converted into a hub for green chemicals, sustainable fuels and plastics, according to Scotland's first minister. Grangemouth oil refinery, which is being shut down by its UK and Chinese owners PetroIneos this year with the loss of 400 jobs, could become a world leader in low carbon chemicals and green fuels, John Swinney told media on Wednesday. The refinery's closure, after 100 years of production, is expected to hit up to 2,000 jobs in the east of Scotland. Trade union leaders and policy makers see Grangemouth as a case study in ensuring the transition from oil and gas is fair and just. Swinney said those workers and local businesses faced 'enormous difficulties'. 'What we have to make sure is that we manage the transition from the dependence on fossil fuels to an approach that delivers net zero,' he said. 'I think it can be done at scale [and] I'm confident we can deliver those new prospects for these communities.' He was speaking after the UK and Scottish governments published a report from the consultancy EY which said up that to 1,200 jobs could be created by attracting low carbon businesses to Grangemouth. However, that will be too late for those workers being laid off this year. EY identified nine industries including: plastics recycling; biorefining of chemicals from organic waste; bioethanol and sustainable aviation fuel production; biomethane production from organic waste; and low carbon hydrogen from renewable sources and ammonia. Yet those industries would require substantial investment, the report said. About £3.5bn would be needed to create around 800 jobs over the next decade. As much as £7.5bn could be spent if those businesses expanded, to create 1,200 jobs by 2040. Earlier in March Keir Starmer, the prime minister, announced £200m in funding from the UK government to help support five green businesses at Grangemouth; the Scottish government has put up £25m for a just transition fund. Michael Shanks, the UK government's energy minister, chaired a local task force meeting with Gillian Martin, the Scottish government's net zero secretary, on Wednesday morning. 'We are committed to leaving no stone unturned in supporting an industrial future for Grangemouth delivering jobs and economic growth,' he said. Energy analysts and environment campaigners are very sceptical about some of these technologies, particularly mass production of hydrogen and sustainable aviation fuel, because they believe the costs and energy involved massively outweigh the gains. But Mark Simmers, chief executive of Celtic Renewables, a Grangemouth-based firm where Swinney launched the report, which is already making green chemicals, said he believed the plans were realistic. His firm, which makes acetone, butanol and ethanol by fermenting whisky byproducts, waste potatoes and molasses, hopes to build a plant eight to 10 times larger than its current factory at the refinery site. Its products help make nail varnish, paints, medicines and household cleaning products – replacing crude oil-based chemicals. 'We've got this great facility with a range of utilities, land and a lot of resources from a feed stocks perspective, but also from a people perspective,' Simmers said. 'So repurposing that for a low carbon manufacturing complex, I think is a great and a realizable plan.' The investment agency Scottish Enterprise would now oversee possible investments, Swinney said. 'This is going to take time. It's going to take investment, and it's going to take commitment, but the Scottish government is here for the long haul,' he said.
