North firm John MacLean and Sons Electrical (Dingwall) shut its Wick site with the loss of eight jobs months after being taken over by a US company.
The wholesale electrical supply company said it had closed its branch in the Caithness town and put its premises up for sale following a downturn in work at the former Dounreay nuclear power station.
Nine staff were employed at the Wick facility, which was shut after a consultation period with the workers during March and April this year.
The closure was noted in the firm’s annual accounts for the nine months to December 31, 2015, released by Companies House, showing the business made pre-tax profits of £8.5 million in the period.
In May last year the Dingwall-based firm was acquired by US public company DistributionNOW, ending more than 40 years of ownership by the MacLean family.
The company, which also has offices in Aberdeen, Cumbernauld, Newcastle, Grat Yarmouth, was set up in 1974 to supply specialist electrical equipment to the emerging North Sea oil and gas industry.
It now suppliers electrical products, lighting systems and cables for harsh and hazardous environments onshore and offshore as well as for renewable energy, petrochemical, process, marine and infrastructure applications throughout the world.
The firm’s accounting date was changed to align its reporting with its parent company, with the result that the annual accounts reflect nine months of trading in 2015.
They show that over that period the company was able to maintain the majority of its workforce, despite “difficult trading conditions” with the average number of workers employed 230, compared with 236 during the full year to April 2015.
Yesterday MacLean’s financial director, former Scottish Premier League referee Alan Freeland, said: “Wick was a small workshop and unfortunately we had to release people there. The decommissioning of Dounreay was a significant factor in that decision.
“Eight people were released, with one retained to maintain the link with Dingwall.
“Our level of retention has been higher than many others and we have done our best to retain people.”
He added that a there had also been a small number of job losses at the firm’s oil and gas division.
Mr Freeland said that MacLean’s directors were “pretty satisfied” with the company’s results in a “tough year.”
MacLean’s turnover in the nine months to the end of last year was £104.3 million.
Looking ahead, the company said it anticipated meeting its targets despite the ongoing reduction in oil and gas spending due to the continued pressure on the price of oil.
It also anticipated a reduction in income from street lighting revenue as home construction and local authorities “continue to be prudent with their expenditure.”