A FAMILY-owned chemicals firm is looking to tap into new markets on the back of a £1.3 million funding package from HSBC.
Scotmas, based in Kelso in the Borders, specialises in water purification products used in industry, agriculture and healthcare. As part of an expansion strategy, it has targeted markets such as provision of safe drinking water in the developing world as well as applications in the oil and gas sector.
Recent contract wins include supplying additional water disinfection systems for desalination plants in Doha in time for the Qatar World Cup in 2022 and a contract to help provide clean water to villages in southern India. The funding package includes export trade finance and invoice finance.
Managing director Alistair Cameron said: “We have made a number of significant and ambitious business decisions in recent times to make Scotmas stronger and more profitable.
“Diversifying into different areas was the biggest decision, and finding a financial backer that recognised our ambition and had the international reach and expertise to suit our new business model was another.”
Colin More, HSBC’s head of corporate banking for Scotland said: “Scotmas is a great example of an ambitious business that takes a step back to assess where it is and where it is going.
“In doing so it has identified areas where their world-leading technologies can prove useful and profitable, and as a result they are a business that is going from strength to strength.”
The funding was provided through HSBC’s £100m East of Scotland SME Fund.
Scotmas makes chlorine dioxide products ranging from tablets suitable for disaster operations, through to dosing systems for municipal water treatment.