Ayrshire engineering firm looks to double up

An Ayrshire engineering firm is gearing up to double in size thanks to a sixfigure funding package.

Ayrshire Precision Engineering, which was established in 1969 and makes components for the oil and gas industry, has also been bought out by its managing director of four years, Chris Hepburn.

From a current turnover of about £2 million, Hepburn plans to double its size within five years by diversifying into other sectors using state-of-theart equipment and automation.

Funding has been provided by Royal Bank of Scotland and Lombard Asset Finance, with the support of Lombard senior relationship manager, Kenneth Mair.

Hepburn said: “Ayrshire Precision Engineering turns 50 in 2019, and while we want to celebrate our heritage, we’re also looking to the future.

“We are investing in our equipment, updating our processes and training our apprentices in the skills needed to successfully diversify the business into new markets.”