FlexTech Invests £500,000 in New R&D Hub

FlexTech Invests £500,000 in New R&D Hub

View all news from: FlexTech Engineering Ltd
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23 September 2014

As part of its ongoing growth and development strategy, flexible pipe specialist FlexTech has invested £500,000 into a new manufacturing and fabrication base in Lincolnshire.

Since its inception in March 2013, the Aberdeen based company has achieved turnover of £1milllion, and it is on track to reach £2.5million by the end of yeartwo.

With existing research and development and manufacturing premises in Aberdeen, and an R&D facility in Lincolnshire, FlexTech’s new Grimsby base will help to expand its presence across the UK, with plans to extend its capabilities and offerings into the renewables sector.

FlexTech Engineering Director, Craig Keyworth, said: "Since start-up, the company has been performing successfully within the oil and gas industry. The new investment in Grimsby is strategic due to the region emerging as a key player in the renewable energy industry, with potential to become the UK capital of the offshore wind industry.

"With such clear synergies between our services and equipment offerings within the oil and gas and renewables sectors, and the renewables developing at such a significant rate, the placement of our R&D facility in the region positions us well for an advance into the sector.

The newly acquired one and a half acre facility, with 3,000 sq. ft. office and workshop,currently employs seven skilled personnel, with a further five to be recruited over the next 12 months. It will provide FlexTech with an excellent base in the region both now, and as it increases staff numbers and service offerings in the future.

Mr Keyworth continued: "The companies that we have worked with in the region to develop the new base have been fantastic, and incredibly thorough, responsive and reliable, helping the development to progress in a smooth and successful manner.”

The new facility will support the delivery of projects worldwide, with the team in Grimsby supporting FlexTech’s increased presence in the region. With direct access to the world’s biggest offshore wind farms, and Quayside access to the UK’s largest port, it will also allow FlexTech to offer its range of products and services to a wider market and breadth of companies operating within the area.