Historic Aberdeen fabrication firm secures £1m RBS funding as it eyes Covid recovery

An historic Aberdeen firm that is one of the last remaining independent makers of paper watermarking machinery in the UK has secured a £1 million funding package as it looks to bounce back from the pandemic.

Dyce-based engineering, machining and fabrication firm Woollard & Henry, which has been employee-owned since 2002, has a team of 55 and with funding support from Royal Bank of Scotland has expanded with additional facilities in Germany and Poland.

The firm has welcomed a £1 million funding package from the bank to support operations throughout the coronavirus crisis.

Managing director Fred Bowden said: “Like all other firms, we have found the last 12 months challenging but as restrictions start to ease, we’re confident that business levels will resume to, if not exceed, pre-Covid levels.

With an international client portfolio predominantly across the tech, energy and pulp and paper industries, Dyce-based Woollard & Henry is one of the last remaining independent makers of paper watermarking machinery in the UK.

“Our history in Aberdeen dates back to 1873 and we’re very proud of the extensive and innovative products that we have developed over this period. We now supply equipment to 24 of the world’s 28 bank note manufacturers – an achievement we owe to the commitment and skill of our valued team.

“The support and funding from Royal Bank of Scotland has been invaluable as we press ahead with an exciting new chapter at Woollard & Henry, with a fruitful new business pipeline set to drive more activity for the firm.”

David Snell, senior relationship manager at RBS, added: “It has been highly rewarding to work with Fred and his team. We’re looking forward to continuing our relationship with the team and wish them the very best in the future.”

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