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Vetco Gray

Vetco Gray is to invest £2.7m in the expansion of its oil production equipment operations in Montrose, but up to 78 jobs will be lost when some of the manufacturing is transferred to other sites.

Vetco Gray, the global oil services company with 870 staff in Aberdeen and 286 in Montrose, is to be acquired by General Electric of the US for almost £1bn.

Vetco Gray is recruiting 70 additional staff at its oil services business in Aberdeen, and has just transferred 120 support staff to a new 26,000 sq ft site at the Aberdeen Science & Energy Park.