A Moray based electronics firm has embarked on a £2 million global growth programme that aims to boost the business’s global trade, create twenty new high quality jobs and increase its turnover to £30 million over the next three years.
Scotland Electronics International Limited (SEIL) designs, builds, tests and supports high performance electronic products and solutions built to withstand the harshest of environments where accuracy and reliability are vital. These include the oil and gas sector, defence and aerospace as well as industry and commerce.
The company announced its growth plans in March after securing a £669,000 funding package with Highlands and Islands Enterprise (HIE).
With a further £772,000 from Bank of Scotland, the company has today (Tuesday 16 June) bought Nova House in the Enterprise Park Forres. It has leased the building for the past five years and used it as an advanced manufacturing and testing facility; the only one of its kind in Scotland and one of only two in the UK. Having bought the building SEIL is planning a 15,000 square foot extension to increase manufacturing in Forres.
SEIL has been developing a world class global presence and recently attained representation throughout the US, China, India, the Middle East and North Africa. It has a clear growth path in driving new innovative technology into the oil and gas market with potential activity in 35 countries across 6 continents.
As well as creating new jobs in Scotland, its future development plans include opening new design and manufacturing sites in partnership with other synergetic companies in both Houston and the Kingdom of Bahrain.
Mike Ramsay, CEO and managing director of SEIL, said: “We are proud to have the heart of our business located in Moray, with a world class workforce producing world class products. Now, with the financial support and professional guidance from Bank of Scotland and HIE, we are in the fortunate position to expand into a medium sized enterprise.”
David Oxley, HIE area manager in Moray, added: “I am very pleased we are able to support SEIL’s accelerated growth plans. The company’s investment will increase its turnover and international sales and create twenty good quality well paid Scottish jobs, right here in Moray. It will also enhance Scotland’s reputation for having many thriving sectors, including engineering, and the contribution these make to the country’s economy.”
Henry Taylor, manufacturing relationship director at Bank of Scotland, said “This is an exciting time for the business representing an important milestone by securing its own premises while gaining international traction in the world's fastest-growing major economy.
“Having worked with SEIL for just under 20 years the Bank has seen how the business has continued to adapt to all industry challenges and how it has developed its high performance technology to meet the increasingly complex requirements of its diverse customers based.
“Manufacturing is a key market for us with a £1bn per annum borrowing pledge in this sector over the next five years and Scotland Electronics is a prime example of the businesses we are looking to continue to support, demonstrating our commitment to ‘Helping Britain Prosper’.”
Scotland Electronics is a major employer in Moray with forty existing full time equivalent posts, including engineers and PhD graduates. The company promotes careers in sciences, technology, engineering and maths by working with a local college and schools.