A major national and international supplier of harsh environment engineered products, Hydro Group experienced growth in both domestic and global markets in 2013, realising the most significant increases in the energy and defence markets, with £600,000 and almost £2million worth of contracts secured for each respective markets in the last six months alone.
Mr Whyte continued: “The next phase of growth began this year, with the opening of our Singapore office where we have initially invested close to £300,000 in developing the South East Asia operation, recognising it as a potential high growth region for us.
“Our target turnover for the coming year is £8.5million, with future projected growth predicted to reach £10million over the next two years. This will be realised by opportunities to grow our domestic and European Energy, Defence and Renewables markets and strong International markets that will require further investment and focus to develop.”
With an extensive product range, Hydro Group takes the raw materials and manufacture from start to finish in Scotland, before exporting globally. Future plans will see the SME continuing to invest in a number of areas of product development, new capital equipment and increase staff numbers from 80 to 100 in 2014.
Hydro Group Plc is an energy-service firm made up of Hydro Bond Engineering and HydroCable Systems Ltd
