Friday, 8 June 2012
£59 million investment in equipment and infrastructure to create hundreds of new jobs for Scotland
Innovative Scottish businesses are being encouraged to invest in more capital equipment and infrastructure to help stimulate greater growth and increase their global competitiveness following new figures released by Scottish Enterprise.
Over the last year, Scottish Enterprise has helped ambitious Scottish companies commit to investing over £59 million in new infrastructure and capital equipment, such as new machinery, which is expected to help create 882 new jobs and safeguard 360.
Scottish Enterprise will contribute £12.8 million towards the companies investment of £46 million.
This announcement came during a visit by Scottish Enterprise’s chairman, Crawford Gillies, to officially open Etek Europe Ltd’s new facility at Prestwick International Aerospace Park, a £750,000 investment which the company expects will help create 17 new jobs.
[Pictured: Prestwick International Aerospace Park.Square building is Etek Europe Ltd new premises. L-shaped building on right is home to Tannlin and Veracity as well as two further vacant units.]
Mr Gillies said: “Today is a significant milestone in Etek Europe Ltd’s growth plans, and I am delighted to be here today to join them in celebrating this landmark event, and to hear first hand its growth plans for the future.
“For Etek, having the right premises with more space means it can recruit more staff to meet its existing customer needs, but it also opens up a number of other opportunities such as new customers, new products and new markets.
“We need to encourage more companies to see the benefits of investing in the right equipment and infrastructure and the huge knock-on effects it can have to their top line.”
Etek Europe Ltd was set up by Mike Nelson in 2007, and now turns over £2.6 million and employs 24 staff. In five years, the company has grown steadily with five divisions providing products and services internationally to more than 800 clients across a number of industry sectors, including aerospace, defence, medical and electronics.
[Pictured: Mike Nelson, managing director of ETEK Europe Ltd with Crawford Gillies, chairman of Scottitsh Enterprise.]
Prestwick International Aerospace Park, with its strong cluster of aerospace companies and close proximity to the airport, offers the perfect location for Etek Europe Ltd to grow.
Etek Europe Ltd managing director and owner Mike Nelson said: “The investment in this new technology centre will allow Etek Europe to invite our global customers to come and view our equipment in our new demo room.
“We shall also have a training academy where our customers can also be trained to a high level on both equipment and processes. Additional warehousing and office space will also help with our expansion over the next 24 months.”
Enterprise Minister Fergus Ewing said: “The Scottish Government and our enterprise agencies are working tirelessly to secure new jobs and investment for Scotland. Part of this service is advising businesses on how to get the best returns from their investments in equipment and infrastructure.
“Etek’s announcement to expand their Scottish operations and create 17 new jobs at their Prestwick facility is testament to the skills and expertise of the local workforce.
“The decision of this growing firm to invest in Scotland highlights the talent we have in the aerospace industry, and also Scotland’s attractiveness as a place to do business.”
Etek Europe Ltd has worked closely with Scottish Enterprise to deliver its ambitious growth plans through its dedicated account manager, Allan Cameron.
Allan, who accompanied Crawford during the visit said: “It’s really great seeing a company you’ve worked with closely grow from strength to strength, knowing that all their hard work has paid off.
“As well as supporting its move to Prestwick International Aerospace Park we’ve also helped Etek exhibit overseas through our international arm, Scottish Development International, and are considering marketing and graduate placement projects going forward.”
[Pictured left to right: Allan Cameron, account manager at Scottish Enterprise, Crawford Gillies, chairman of Scottish Enterprise, Mike Nelson, managing director of ETEK Europe Ltd Ian Morris. International Senior Executive of Scottish Development International and John Fish, business infrastructure project manager at Scottish Enterprise.]
Etek Europe Ltd has purchased the 11,000 sq ft unit at Prestwick International Aerospace Park from Scottish Enterprise and South Ayrshire Council. This latest deal means there are just two smaller units (7,255 sq ft) remaining at this strategic site adjacent to Glasgow Prestwick Airport. Additionally the Park offers significant greenfield opportunities for other companies, by providing prime serviced sites - and its recent designation as one of Scotland’s new Enterprise Areas, means that there is potential for companies to establish with the benefit of tax incentives.
Etek Europe joins Goodrich Corporation, Veracity and Tannlin at Prestwick International Aerospace Park.
Scottish Enterprise is Scotland’s main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy by identifying and exploiting the best opportunities for economic growth.
Scottish Development International (SDI) is a partnership between the Scottish Government, Scottish Enterprise and Highlands and Islands Enterprise, which works to attract inward investment to Scotland and helps Scottish-based companies to trade overseas.