Dundee-headquartered METALtech UK has become the 100th business to benefit from the Scottish Government’s Digital Development Loan fund for SMEs.
The company designs fabrications used in the construction, oil & gas and manufacturing industries. Projects the company has been involved with include the V&A Museum in Dundee, the Aberdeen Exhibition & Conference Centre and the SSE Hydro, Glasgow.
The funding will enable it to purchase of a specialist cutting machine which will mean it is able to out work it previously outsourced.
Wattie Milne, METALtech UK’s managing director, said the new equipment “will have a significant impact on the whole business and is part of our overall growth strategy.”
The business, which employs 45 staff and has a turnover of over £4 million, is currently working on the new V&A Museum Collections and Research Centre in London.
Scottish finance secretary Kate Forbes, said: “The pandemic has highlighted the importance for businesses to harness the opportunities for digital technologies to drive productivity, support growth and increase resilience.”
The Digital Development Loan scheme offers interest-free finance of between £5,000 - £100,000 to help businesses invest in digital capabilities and their workforce.
Other sectors to benefit from the scheme include agriculture and fisheries, food and drink, manufacturing, energy and renewables and the creative industries.
The scheme is managed for the Scottish Government by Lanarkshire Enterprise Services in partnership with DSL Business Finance.