One of the three founders of Downhole Products, the Aberdeen-based company which is a world market leader in oilfield equipment, has been appointed managing director following the buying over of the company by US-based Varel International.

Ian Kirk's appointment comes as Downhole Products continues to steadily expand its global sales operations, creating new jobs, and increasing turnover by around 30% year-on-year.

Downhole Products, whose world headquarters is at Badentoy Park, Portlethen, near Aberdeen, designs, manufactures and markets a wide range of technologically-advanced oilfield tools used in the construction and completion of oil and gas wells.

Its leading products include high-end centralizers and reamer shoes for use in the running of well casing and completion strings. Sales of its new product "Grippy" control line protector clamp have just topped the 250,000 mark - earning the company more than £5m in the past three years.

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With turnover rising above £15m last year, Downhole Products has seen its export earnings more than double during the past four years, and it now generates more than 95% of its total earnings from out with the UK - bringing vital revenue to the UK as the pound sterling continues to be weak against the US dollar and Euro.

This export achievement saw the company recognised last year by winning the coveted Queen's Award for Enterprise in the International Trade Category.

Ian Kirk (54), a qualified mechanical engineer, was one of the co-founders of Downhole Products, along with Bill Barron and Alistair Clark, when it was launched in 1994 from a small office above a motor cycle dealership in the village of Peterculter, near Aberdeen. The three Aberdonians' first product was the Spir-O-Lizer centraliser which notched up sales of more than £1m in the first year of operation.

Ian Kirk said: "We now have agents in 26 countries and we are increasing our turnover by around 30% each year. We are capitalising on the fact that our relationship with Varel International Energy Services has provided Downhole Products with financial and operational support which is helping us accelerate growth in both existing and new market places, as well as increasing our capability to deliver innovative solutions for our customers in major oil and gas countries throughout the world."

(GK/JM)