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Omiga future sparkles with self-cleaning glass
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Omiga Glass has unveiled a clear vision for growth on the back of fresh investment.
The Blackwood company, originally set up in 1995, will use the £300,000 cash injection to reorganise the business and to push ahead with sales of the new Pilkington Active self-cleaning glass - one of the most significant innovations in the industry in many years.
UKSE Fund Managers, a subsidiary of UK Steel Enterprise, has provided a £175,000 investment. UKSE Fund Managers has been appointed to manage part of the Finance Wales Investments' mezzanine fund, from which this investment has been sourced.
A further £25,000 loan has come from UK Steel Enterprise, the Corus subsidiary which provides innovative funding packages for companies which show growth potential, and the balance of the investment from other sources.
Omiga director Mike Evans is confident that the company is on the path to expansion with the new backing.
He said, 'It means we have been able to reorganise and update the facilities.
'In a competitive market such as this, it is vital to keep up to date at all times.
'We were particularly pleased with the speed with which the deal was completed, and would like to congratulate UK Steel Enterprise, and our advisers Broomfield and Alexander, on this.'
Pilkington's new self-cleaning glass is growing in popularity, and Omiga is determined to take advantage of the opportunity.
Mr Evans said, 'People are realising that this can save a lot of work, especially in places hard to reach. Although it costs more than conventional glass, more people are opting for it.'
Omiga has a team of skilled glass designers, who can turn their hands to virtually any requirement, from a window featuring a World War II Hurricane aircraft to a complex Celtic pattern.
'Customers are amazed by what the team can do. We hardly ever say that we can't make a design that somebody wants,' added MrEvans.
The plan over the next three years is to grow the business from a £1m to £1.7m turnover business and in the process increase the workforce from 18 to 28.
Mark Hislop, UK Steel Enterprise investment executive, has worked closely with the directors to put the deal together.
He said, 'There is a lot of potential for steady expansion, by exploiting the reputation which Omiga has established locally in the last 10 years.
'The fact that Omiga concentrates on quality products backed with 10-year guarantees was another important factor in our decision to support the business.'
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March 30th, 2005
Source: Icnetwork.co.uk |
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