Optima expands overseas portfolio
Specialist engineering company Optima Control Solutions Ltd. has expanded its export portfolio following a six-figure funding deal from NatWest and UK Export Finance.The Blackburn-based firm specialises in providing hi-tech systems for manufacturing production lines, primarily involving the design and supply of electro-mechanical control systems for production machines.
The business was founded in 1995 by Michael Hill and Adrian West and employs 20 people including professional engineers from its headquarters at Capricorn Park.Earlier this spring UK Trade & Investment unveiled its commitments to see British exports reach £1tr by 2020. Firms like Optima are central to making this happen.
Optima recently won a major order from South Korea. To fulfil the contract Optima had to purchase production line equipment from UK and European suppliers, and export the equipment overseas to South Korea.To meet the demands of the order, bosses at Optima secured £250,000 of working capital from NatWest and UK Export Finance. This helped Optima ensure it could pay suppliers in full before receiving full payment from its own customer due to the extended seaborne delivery times.
Michael Hill, managing director at Optima, said: “I was delighted with the support provided by NatWest. Without it we may not have been able to complete this major export order. We are also confident we can take on similar customers in the future.” Simon Watson, international trade director at NatWest, said: “I was delighted to support Optima on this funding agreement which ensured the business could deliver to its new customer. It’s an exciting time for Optima as it expands its export portfolio and I wish the business every success for the future.”