Date Created: 31 May 2012
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 today.
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.
Etek opens new facility at Prestwick International
“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.” – Crawford Gillies, Chairman, Scottish Enterprise
This announcement comes 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.
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.”
Exporting for growth
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.
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.
Mike Nelson, managing director and owner of Etek Europe Ltd, 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.”
Welcoming Etrek's investment, Enterprise Minister Fergus Ewing said: "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."
Enterprise Area opportunities
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.”
Etek Europe Ltd has purchased the 11,000 square feet 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.
The Park also 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.
Investment opportunities at Scotland's Enterprise Areas
Scottish Enteprise grants for investment projects