Balmoral Group launches new US tank factory following major asset sale

Aberdeen-based Balmoral Group has commenced production at a newly established manufacturing facility located in Ohio, United States. The investment into this specific site totals two million dollars and marks the third operational location for its tanks division within North America. This development follows the group’s decision to sell its Comtec business unit to Freudenberg Group based in Germany while retaining other core assets including Balmoral Tanks and commercial property holdings.

The sale proceeds have been directed towards establishing a family office with an initial capitalisation exceeding fifty million pounds sterling. Corporate director Kevin Binnie stated that this strategic move is designed to safeguard the legacy of founder Sir James Milne by pursuing a more diversified investment portfolio. The new entity intends to support small and medium-sized enterprises across property, listed investments managed externally, and private equity opportunities within the oil and gas sector.

Production at the Ohio plant focuses on steel panel epoxy-coated tanks used for water, wastewater, industrial energy and infrastructure projects. Jonathan Smith, vice president of sales, noted that local manufacturing enables a more efficient response to American demand for storage solutions required by renewable energy initiatives such as anaerobic digestion facilities. The facility covers an area of 16,600 square feet and was scheduled to begin operations in the third quarter of last year.

Financial records indicate that Balmoral Tanks generated a profit of one point four million pounds on sales approaching one hundred forty-seven point five million pounds for the period ending March 2025. Since 2018, the group has invested thirty million dollars into its tanks business to support global expansion and operational efficiency.

The corporate headquarters will relocate later this month to an address at seventy Queens Road where approximately twenty staff members are expected to move. The charity Friends of ANCHOR will also operate from the new premises while the Milne Family Foundation continues to provide annual funding between two million and three million pounds to around sixty charitable partners.

Sir James Milne, who founded the business in 1980 at an age of eighty-five years old, envisioned a lasting legacy that balances traditional industries with modern investment strategies. The group aims to partner with ambitious management teams across various sectors while maintaining its commitment to high-quality durable products trusted by customers worldwide for over four decades.

This new chapter represents a significant shift in the company’s operational structure without abandoning its core manufacturing capabilities or charitable commitments established since its inception.