Scotmas to drive business with funding from HSBC Bank

Scotmas is set to explore new business opportunities in Qatar and India after it received funding from HSBC bank, amounting to £1.3m.

The bank offered the finance package to the Scotland based water purifying firm through its £100m East of Scotland SME Fund.

Recently, the firm has won contracts for supplying water disinfection systems for four new desalination plants in Doha, the capital of Qatar which will be hosting the football World Cup in 2022.

It has also secured a contract to supply clean water for villages in southern parts of India.

Scotmas managing director Alistair Cameron said: "We have made a number of significant and ambitious business decisions in recent times to make Scotmas stronger and more profitable.

"Diversifying into different areas was the biggest decision, and finding a financial backer that recognised our ambition and had the international reach and expertise to suit our new business model was another.

"With HSBC we have ticked those boxes, and with the finance package we have agreed, we look forward to 2015 and beyond, and growing more."

The firm chiefly manufactures chlorine dioxide products and water treatment dosing systems to be sold across industrial, agricultural and healthcare businesses in the UK and Europe. It is currently trying to break into the oil and gas sector.

HSBC Corporate Banking for Scotland head Colin More said: "Scotmas is a great example of an ambitious business that takes a step back to assess where it is and where it is going. In doing so it has identified areas where their world-leading technologies can prove useful and profitable, and as a result they are a business that is going from strength to strength."

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Image: Scotmas receives funding from HSBC. Photo: Courtesy of HSBC.