LOCAL company Pioneer Oil Tools Limited is celebrating its 40th anniversary this year.
It was founded in 1971 by partners Frank Peterson, Donald Brown and Tom McGill and traded under the name Peterson, Brown and McGill. Originally they manufactured parts for both the gun and agriculture industry.
However, after noting a boom in the oil industry they decided to change fields and thus ended up manufacturing fishing, retrieval and milling tools for the oil industry.
At that time the firm’s premises was based in Brechin. Initially Peterson, Brown and McGill manufactured solely in a sub-contract capacity before going on to develop and market its own product line.
Over the next 15 years the company grew steadily in size and established Pioneer Oilfield Equipment in Aberdeen. The two operations ran in tandem, trading under their original names with the Aberdeen base mainly generating export business.
In 1986 a new purpose built factory was constructed in the Kirkton Industrial Estate, Arbroath. PBM moved its base from Brechin to the new site at that time, while maintaining the operation of Pioneer Oilfield Equipment in Aberdeen for two years before consolidating all business at the new site.
In 1992 the PBM logo became part of history as the three partners reformed the company under the name Pioneer Oil Tools Limited. Demand steadily increased over the next five years until in 1997 the factory was extended by 20 per cent in order to increase capacity.
The three partners retired in 2008 from the day-to-day running of the business, but still maintain an interest in the company. Currently it is run by engineering manager Paul Wood, commercial manager Karen Duncan, and financial manager Rosie Hill.