Loans worth £5m awarded to four Scottish firms

Published on 01/08/2012 00:00

FOUR Scottish companies, including a leading North Sea technology firm, have become the latest to benefit from £5  million in financial support from the Scottish Loan Fund.

The loans were announced by John Swinney, the Scottish  Finance Secretary, during a visit to Aberdeen-based Red Spider, one of the recipients, which manufactures and supplies tools for the oil and gas industry.

It will use the money to help fully commercialise its latest product and strengthen existing technology. Others to be awarded loans are Rovop Ltd, Booth Welsh Automation and an unidentified energy services business in the North-east.

The Scotsman

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Loans worth £5m awarded to four Scottish firms

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The Scotsman