IIT Targets Export Sales Growth With New Funding

A Gateshead-based milling equipment manufacturer has secured important new investment as it targets further growth in international bulk materials, glass recycling and powder processing markets.

International Innovative Technologies Ltd. (IIT) has attracted £2.5m. of growth funding from City of London-based private investors, as the company looks to further expand export sales.The money raised by IIT will be used for new business development activities and build on the global interest in its patented low energy fine grinding technology which converts hard materials and minerals into fine powders.As part of the expansion the company will also be adding 10 new jobs at its Team Valley operation with additional design engineering and manufacturing staff and new sales appointments.Chairman Tom Wilkinson said: “We’ve been very successful in securing initial sales to many customers in Europe, the USA and beyond.These orders have validated our technology and proven its successful application in a range of materials processing and glass recycling applications.

“The new funding is a considerable vote of confidence in the business and will enable us to respond to the growing worldwide interest in our technology.”

As well as supplying UK customers in GRP and bulk chemicals, IIT has also secured over £1m. of export sales to India, Lithuania, Portugal and the USA.

The company recently appointed a specialist milling equipment distributor in North America and is making similar arrangements to serve minerals processing industries in South Africa, India and Australia.

Also, in a special link up with Proctor & Gamble’s Newcastle Innovation Centre, IIT now has access to advanced powder and particle characterisation laboratory facilities for in-depth analytical work. In return, P&G will utilise IIT’s full scale fine grinding facility in Team Valley for specialist powder materials R&D work.

 

(Left to Right) George Ord, IIT managing director, and Tom Wilkinson, IIT chairman at the company’s Gateshead manufacturing plant.

Tom Wilkinson chairman of IIT, said: “We are indebted to P&G for making this world class materials testing facility available to us.

“Alongside the expansion of our sales and marketing activities, access to this specialist technology will give us a significant technical advantage in our marketplace.”

600450 IIT Targets Export Sales Growth With New Funding glassonweb.com
Date: 2 July 2013
Source: www.iituk.com

See more news about:

Others also read

On December 18th, a provisional agreement was reached between the three institutions on the waste package.
According to calculations made by Interseroh, which is an independent verifying unit, PRESS GLASS saved 562 tons of natural resources in all its plants in 2016.
Strategic Materials, Inc. today announced the expansion of its North American manufacturing footprint by opening a new, state-of-the-art glass processing plant in Delavan, Wisconsin.
A call for applications to an £18 million Circular Economy Investment Fund brought together people from across the building, demolition, waste processing and glass industries this week.
Strategic Materials is the industry leader in recovering and processing post-consumer and post-industrial glass in North America.
British Glass will be co-hosting an event to discuss and present ideas for how a flat glass recovery network could operate in Scotland – linked to Zero Waste Scotland’s call for applications to the country’s £18 million Circular Economy Investment Fund from initiatives to increase flat glass recover

Add new comment