Funding takes loading system global
A TEESSIDE manufacturer is set to take its materials loading system into new overseas markets with the help of a £200,000 business investment.
Xena Systems’ LoadSwift system is designed to both increase productivity by at least 75% and also to cut costs in half for construction firms building multi-storey structures.
The system has been used successfully on a range of construction projects over the last few years, and Xena is now looking to capitalise on the recovery in the construction industry by increasing production to meet growing demand.
As well as building the sale and hire markets for LoadSwift in the UK, Xena will be particularly targeting the construction industries in selected overseas territories, where the system has already had some success, and also has a number of other target markets in mind for future attention.
To help put its development plans into action, Xena has secured a new £200,000 investment from the Growth Fund, which is managed by regional fund management firm NEL Fund Managers Ltd as part of the Finance for Business North East Fund initiative. NEL made a previous £500,000 investment in Xena in 2008, and has been closely involved with the firm’s development ever since.
Formed in 2004 as a construction equipment hire business, Xena Systems is headquartered in Middlesbrough, and expects that around half a dozen new jobs will be created as a result of its planned expansion.
Xena Systems’ chairman Simon Constantine said: “Some internationals market have remained quite buoyant despite the global recession, there are clear signs of recovery in the US and UK and we know there are significant commercial opportunities for us in other markets as well, so all in all, we believe we have many reasons to be positive about the rest of this year and beyond.”
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