Structure, Business Outlook
Seven private investors own the Flotech Group, six of whom are working shareholders. The Board of Directors and senior management team has extensive experience with industrial engineering, in addition to qualified independent commercial expertise. The Chief Executive reports to the Board, with General Managers controlling the individual business units.
Shareholders are pursuing a re-investment policy, retaining profits within the Flotech Group to fund expansion. Expectations for continued sales growth are high, with Greenlane systems becoming more popular as the market for Biogas Purification Systems attains critical mass, and strong demand continuing for Fuel Gas Boosters and large Gas Lift/Re-injection Compressors. The Kallt heat exchanger business remains a stronghold, as Flotech continues to improve its position in both the standardised industrial markets, and in custom-built equipment for the petro-chemical industries. As the installed base of Flotech equipment has grown rapidly in recent years, so has demand for service, spare parts and technical support – such as remote monitoring and diagnostics. Hence the Service business is also growing fast, and rapidly gaining strategic importance to the Group.
Flotech’s business is centred around its close relationship with GE Oil & Gas, as an authorised packager and distributor of GE compression equipment. Being recognised by GE as having unique capabilities in the compression and related businesses has assisted Flotech in its strategy of diversifying opportunities geographically, while remaining tightly focussed on its chosen fields of technical expertise.