Manufacturer set for expansion

Posted on 15 Feb 2020 and read 613 times
Manufacturer set for expansionDundee-based Albacom, an engineering design and manufacturing specialist, is set to expand into new markets after receiving £500,000 of funding.

The company, which was established in 1990 after a management buy-out of the Dundee division of Ferranti, specialises in electrical components for the global defence and aviation industries and has diversified in recent years into new commercial sectors.

It secured a £400,000 loan from the Scottish Loan Scheme (SLS), which is administered by Scottish Investment Bank, and the remainder from private investors.

The money will be used to support marketing activity, expansion of the company’s international footprint and further scaling-up of its engineering operations (creating up to 20 new jobs within three years).

Albacom (www.albacom.co.uk) operates from a 14,000ft2 purpose-built factory in Dundee.

CEO Jim Davidson said: “We have deep roots in the Dundee area and are delighted to have the support of the Scottish Investment Bank and the continued confidence from private investors, as we move forward with our expansion plans at home and abroad.

"We have highly skilled staff with a collective 180 years of specialist design engineering and electrical experience, and we already count many multi-national companies among our customers.

'This investment will create more high-quality jobs and will give us working capital to manage the long lead times we can experience on some projects.

“By keeping our customers front and centre of our growth strategy, I am confident and ambitious for the future development of the business.

"Three years ago, we acquired our own CNC machine shop to support our growing market and customer base.

"By diversifying, we have enhanced our position in total project management, engineering design and manufacturing solutions in a range of industries.

"We have already secured lucrative contracts in the Far East, and I believe that our mixed offer and engineering expertise put Albacom in a unique position to exploit multiple markets in the years ahead.”

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