Business / HIE invests in local engineering firm
HIGHLANDS and Islands Enterprise (HIE) is supporting a Lerwick based engineering business with a grant worth almost £60,000 to help the firm develop new markets in the aquaculture industry.
L&M Engineering hopes that the input from the development agency will boost its business turnover by as much as £1.2 million and create two jobs over the next three years.
The Gremista based firm specialises in engineering and electrical services for the fishing, aquaculture and wider marine industries.
Currently employing around 30 people at its Lerwick base, the firm has been capitalising on opportunities within the local aquaculture market by introducing innovative services.
To facilitate this expansion into new markets, the company has invested in cutting-edge equipment, including CNC machinery, specialist design software and laser alignment tooling.
The machinery will enable local manufacture of products currently imported from Europe and beyond, creating job locally while also reducing the carbon footprint.
Company director Steven Laurenson said: “As a company, we place great importance on continued investment in our people, products and services. We are grateful to HIE for their assistance in delivering this project as we build on and increase our service offering.”
HIE’s area manager Katrina Wiseman said aquaculture industry played a crucial role in the Shetland economy.
“L&M has demonstrated excellence in providing essential services to support its growth,” she said.
“Our investment in this expansion project aligns with the company’s vision to meet the evolving needs of the aquaculture sector, ensuring sustainability, efficiency, and overall industry advancement.”
Become a supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 600 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.