An Aberdeen-based engineering company has moved to bespoke new premises and plans to double its workforce after receiving significant funding support from Clydesdale Bank.
AFS Technologies specialises in small bore tubing assembly and works predominantly with the oil and gas, and associated sectors. The company has received £2.8 million from Clydesdale Bank to support the purchase of a custom-built office and workshop complex at the ABZ Business Park, adjacent to Aberdeen Airport.
The deal was completed by Graeme Hood, Commercial Relationship Manager at Clydesdale Bank’s Business and Private Banking Centre in Aberdeen.
AFS Technologies, founded in 1979, delivers a range of small bore services including inspection, installation and training services to the oil and gas industry. The company also provides a wide range of small bore tubing products, including instrumentation and process interfaces, as well as pneumatic, steam and hydraulic accessories.
AFS Technologies, originally based in Stoneywood, Aberdeen, has moved to larger premises in order to meet a growing demand for its products and services from both domestic and foreign markets. The new 21,000 sq. ft. complex at 3 International Avenue is a state-of-the-art facility which will triple the company’s ability to deliver training sessions.
The company is fully licensed by the Engineering Construction Industry Training Board (ECITB) and is currently the organisation’s Approved Training Provider of the Year.
AFS Technologies employs 44 staff but intends to significantly increase that number to more than 80 during the next 12 months. The job creation will support the company as it targets further growth opportunities in foreign markets, including Qatar, Oman and the UAE.
Alasdair MacNeil, operations director, said: “Moving to larger, modern purpose-built premises now allows us to fully realise our ambitions for the business. Our clients demand quality in our facilities, as well as our services, and we are now in a position to meet or exceed their expectations in both areas.”
Gerry Farrell, managing director of AFS Technologies, said: “We’ve banked with Clydesdale Bank for 13 years now and continue to enjoy a fantastic relationship. To support this purchase, they provided a market leading and flexible deal which was delivered with a personal touch.”
Stephen Hepburn, Head of Clydesdale Bank’s Business and Private Banking Centre in Aberdeen, said: “AFS Technologies is a great example of a business which has used skills and experience from the local market to establish a growing global reputation.
“We are delighted to be providing the support which will enable AFS Technologies to continue growing and creating jobs in the local community.”
Clydesdale Bank recently launched a series of lending initiatives for UK businesses, designed to encourage growth for new and existing customers. As well as interest-only periods for up to five years, the Bank has also introduced high percentage funding for businesses to purchase trading premises.