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.”
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