Premier Hytemp forges international business growth
Scottish Government and Scottish Enterprise visit company to see refreshed Government Economic Strategy in action
One of Scotland’s business growth success stories, Premier Hytemp, today received a visit from Cabinet Secretary, John Swinney and Lena Wilson, chief executive of Scottish Enterprise. The visit highlighted how Scottish Enterprise is working with high growth companies to deliver the Scottish Government’s refreshed Government Economic Strategy.
Edinburgh-based Premier Hytemp Ltd is a global manufacturer and supplier of specialist alloys serving sectors such as oil and gas and shipbuilding, and has the capability to supply renewable energies, nuclear and water processing sectors. The company produces high quality, low and high temperature steels which are used in some of the world’s most aggressive oil and gas exploration and extraction environments.
Lena Wilson, chief executive of Scottish Enterprise, said, “We are already responding to the Government’s refreshed Economic Strategy, and our business plan is closely aligned to the areas of greatest potential for Scotland. To create a truly competitive business environment for Scotland, we need to work with companies, like Premier Hytemp, to help them harness their capabilities and achieve their ambitions to grow.
“High growth companies create wealth and jobs for Scotland by exploiting new innovations, by seeking overseas trade and export opportunities, and by exploring emerging markets, such as the low carbon sector. Working in partnership with the public and private sectors, these are the areas of the Government’s Economic Strategy that we can help deliver for Scotland’s economic growth.”
In the last four years, Premier Hytemp has established its export operations with a full service facility in Singapore, facilities in Sheffield, and an office due to open in Houston, USA, later this year. The company currently exports to customers in Europe, South America, Canada, the Middle East, Africa, the Far East and Australasia, with aspirations to expand into Brazil next.
Donald Wilson, managing director of Premier Hytemp Ltd commented, “Like many companies, we had to reassess our operations during the economic recession, and in April 2010 undertook financial restructuring to stabilise our finances. Since then, our focus has been on developing the team at Premier Hytemp. This has enabled us to grow our business through the many opportunities that exist in the UK and overseas, and it’s paying off.
“Our turnover in the last financial year was £31 million and we now employ 165 staff worldwide, and we’ve recently introduced an apprentice scheme and a youth development programme to bring fresh talent into our industry. This year we are already tracking well ahead of last year’s turnover and, with Scottish Enterprise and Scottish Development International’s support, we’re confident that our global operations will continue to expand and prosper.”
Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney said, “This Government remains focussed on delivering faster sustainable economic growth, with opportunities for all people across Scotland to flourish, and the refreshed Government Economic Strategy outlines practical measures to ensure we achieve this.
“Scotland is home to a wealth of ambitious, innovative enterprises, such as Premier Hytemp, and it’s essential that we do all we can to help these businesses capitalise on overseas opportunities.
“Premier Hytemp is a strong example of an ambitious Scottish enterprise internationalising - the company has established facilities in Singapore and Sheffield, and is opening new offices in Houston. Their impressive Edinburgh HQ is testament to Scotland’s engineering heritage and manufactures high quality products for the energy, aerospace, waste and shipbuilding industries.
“The Scottish Government, Scottish Enterprise and Scottish Development International are working hard to ensure that businesses maximise their opportunities to grow. This Strategy sets the vision for the whole public sector to work together more effectively and collaboratively to support our ambitious companies in achieving their global ambitions and contribute to Scotland’s economic success.”
Scottish Enterprise has been working intensively with Premier Hytemp to offer a tailored and integrated package of business support to help the company achieve its growth aspirations. In particular, Scottish Enterprise assisted with an organisational development project which will help the management team lead the company to achieve its business plan objectives.
Kevin Norris, Premier Hytemp’s account manager at Scottish Enterprise, commented, “As one of the companies we work most closely with, Premier Hytemp has access to a team that represents the different areas of business support we can offer. This approach has delivered specialist business growth advice and expertise, for example our Scottish Manufacturing Advisory Service (SMAS) is currently helping the company develop its lean management process.
“Our partnerships with other agencies also benefit companies, with Premier Hytemp’s Houston office opening facilitated by Scottish Development International (SDI). This assistance continued with SDI arranging a familiarisation trip for Premier Hytemp to Houston last month.”
As oil becomes scarcer, finding and extracting it requires deeper drilling, with the sub-sea and sea-bed equipment used required to withstand very high pressures while still being reliable and long-lasting. The materials supplied by Premier Hytemp can vary from cut, high quality specialist alloys to forged, precision-machined and heat-treated complex components. One example of this kind of component are sub-sea valves that are used in oil and gas operations, connecting the oil well to the oil rig under these extreme conditions. Recently, the company’s critical component parts were featured as part of the Oil Spill Prevention and Response Advisory Group (OSPRAG) demonstrator at the SPE Offshore Europe 2011 conference in Aberdeen earlier this week.