TANKS A LOT!
0 Comments | Evening Times; Glasgow (UK), Jul 28, 2010 | by OONAGH BROWN
A Glasgow-based aquarium manufacturer has landed a pound(s)50,000 loan from steel giant Corus to make reptile tanks.
The cash boost means Aquapac is now set to expand on to the internet.
Aquapac, based in Ruchill Street, Maryhill, was given the unsecured funding as part of the government’s Enterprise Finance Guarantee Scheme (EFGS).
The investment from the UK Steel Enterprise (UKSE) – a subsidiary of Corus -will make the company top in its industry by funding the purchase of cutting-edge machinery.
The new equipment will help them to produce a larger range of aquariums and vivariums for snakes and lizards and will make sure they meet demand.
Managing director Stephen Connachan said: “There has been a marked increase in vivarium sales in recent years and they are now on par with cat and dog products.
“As this is a niche market, it is vital that we stay ahead of the competition and ensure we are providing our clients with the highest quality products.”
He added: “Thankfully, the money we have received from UKSE will allow us to do this.”
The funding has also given Aquapac the chance to create a new market strategy.
Mr Connachan said: “We are looking forward to launching our new website, which is hugely important as it will allow existing and potential clients to find out more about what we can provide.”
The website will be a important tool for the company because it distributes its products across the UK and Europe.
Aquapac clients include the Canadian pet supplier Rolf C Hagen and household appliance manufacturer Russell Hobbs.
Aquapac also sells to customers in North America, including grooming product giant Remington and The United Pet Group.
Anne Clyde, area manager of UKSE, said: “Since 2002 Aquapac has increased its turnover by more than 400% which is a fantastic achievement.
“It has clearly cornered a specialist market and has managed to secure contracts with high-profile European, American and Canadian companies.
“It is crucial the company continues to provide the best possible service for these clients, especially in the current economic climate.
“This is why we are more than happy to provide the funding for the new machinery.”
She added: “The EFGS scheme is designed to help profitable businesses reach their full potential. I’m confident that this funding will help Aquapac to do this as it works to remain at the forefront of its sector.”
oonagh.brown@ eveningtimes.co.uk