The management team at a north east engineering firm have revealed plans that they are to downsize operations due to the current market climate.

Turriff based Ace Winches, who supply deck machinery and staff to the offshore oil and gas, marine and renewable energy industries will enter into consultations with staff about positions placed at risk.

The company is expected to reduce staff count by 60 members of personal out of its 313 workforce at their UK based Headquarters in Trurriff, the redundancies are believed to be finalised before Christmas

A spokeswoman for Ace commented last night that the firm was ‘proactively managing’ the company in common with other local and global oilfield providers, she furthered - “The company has responded by implementing a number of cost reduction initiatives and efficiency drives to reduce costs and better align the business with the current market environment,”

“As part of this process the company is reviewing head count and it is expected that approximately 60 positions may be placed ‘at risk’ of redundancy.”

Employee contracts are now expected to be reviewed to keep workforce reductions to a minimum.

The announcement was made just days after the firm’s chief executive Alfie Cheyne flew to the Far East for a trade mission with Prime Minister David Cameron.

Mr Cheyne, had commented that the visit was to “endorse the excellence of British research and development, and high quality engineering solutions”.

Ace had delivered over £5million worth of manpower and equipment to the region, including over £1million worth of deck machinery for Helix Energy Solutions Group new semi-submersible well intervention vessel Q7000.

Alex Salmond, former first minister and local MSP said he was ‘confident’ that the company would bounce back.

“The downturn is affecting even excellent companies like Ace Winches, who are amongst the best, most innovative oil field suppliers,” he added.

“However, I’d be confident that as the market improves the company will recover in terms of employment.

“Of course this will be a difficult time for my constituents affected, and I would encourage anyone who is looking for assistance to contact my office in Inverurie.”

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