Paisley-based electrical engineering group Power One is on course for a year-one turnover of £2.5 million thanks to a raft of contract wins.
The firm, which now has 23 employees, has secured a project for 14 heritage and tourist destinations, including Glasgow’s Kelvingrove Art Gallery and the city’s famous Willow Tearooms, to celebrate the 150th anniversary of the birth of Charles Rennie Mackintosh. It has also secured a number of LED street lighting projects across Scotland.
Despite his former company being forced into administration, managing director of the newly-formed Power One, Mark Ward, said the outlook was bright.
“We have gone back to our roots, focusing on smaller contracts and sticking to what we know best,” he said. “From a standing start, we have secured a number of high profile projects with a healthy pipeline of contracts in the offing, including the delivery of cellular systems for stadia and shopping centres.”
The firm has projects in the pipeline to deliver integrated cellular systems across the UK for Vodafone, Telefonica and EE to fully embrace 4G and prepare for 5G.
Ward has vowed that his business will never again take on a construction contract, adding: “SMEs [small and medium-sized enterprises] are simply not protected by NEC 3 contracts.
“It’s too much of a risk and often, not until nearing the completion of contracts that things start to go wrong and smaller companies become exposed. It’s a risk we’re simply not willing to take.”
Ward has been invited to speak on the subject at a parliamentary review in Westminster by Lord Blunkett and Sir Eric Pickles.
The company is supported by Scottish Enterprise and the Scottish Investment Bank and advised by Campbell Dallas.