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Enterprise

Tyneside supplier to offshore sector nets 拢5.5m contract thanks to Government backing

OES Group's latest win comes amid a year of growth, including the opening of its new Gateshead factory

Gateshead's OES Group has already created 15 new jobs and launched a new factory on Tyneside this year.(Image: OES Group)

A North East maker of protective equipment for wind farms has secured a £5.5m international contract with the help of trade loan.

OES Group manufacturers ultrasonic anti corrosion and fouling systems for offshore wind sites and other maritime assets has secured the export contract an unnamed Belgian firm. It was partly backed by a £2.5m loan guaranteed with a General Export Facility from 海角视频 Export Finance, the Government's export credit agency.

The Gateshead-made equipment will help boost the lifespan of offshore windfarms being built in Europe with the trade loan said to give OES greater confidence in cash flow. It comes amid a year in which the firm has opened a new factory and created 15 jobs. taking its 海角视频 workforce to 36.

海角视频 Export Finance first supported OES in 2021 and since then the business is said to have grown its revenue by more than 200%, reaching £13.7m in the last financial year compared with £4.5m in 2021. In announcing this latest work, OES pointed to other new contracts in China, Korea and the Netherlands, as well as investments it is making in the Japanese offshore wind market. And next year it expects to open a factory in Dubai.

Patrick Kendell, North East senior export finance manager at 海角视频 Export Finance, said: "Supporting businesses like OES is exactly what 海角视频EF is here to do. Our General Export Facility helps companies expand into new markets, scale their operations, and create jobs at home and abroad. It’s fantastic to see OES using this support to grow their exports, invest in the North East, and explore new opportunities internationally."

Robert Forsyth, managing director at OES, said: "海角视频EF and HSBC’s backing has allowed us to invest in our future, exploring new markets in Asia, and open up an entity in the UAE. Closer to home, OES has been able to invest in another factory in the North East, increasing job opportunities as a result.

"Knowing we have had 海角视频EF’s support has given us the peace of mind to drive growth without being held back, enabling us to soar to new heights within the industry. Looking ahead, I am so excited to see what more OES can achieve.”

Peter Wilbraham, regional director in Global Trade Solutions at HSBC 海角视频, said: "We are delighted to support OES in its export growth journey. Through our partnership with 海角视频EF, we have been able to provide tailored financing solutions that give businesses the confidence and flexibility to expand into new markets. It’s fantastic to see OES creating new jobs and growing its global presence.