Livingston jobs as cycling wear firm Endura expands
- 17 July 2012
- From the section Scotland business
Cycle clothing company Endura is to build a new £2.4m manufacturing plant in West Lothian after securing a funding package.
The facility at Starlaw Park, Livingston, will allow the firm to increase exports and target the lucrative US and European markets.
The move is being backed by a Scottish Enterprise grant of £235,000, together with a £1.15m loan from HSBC.
Fifteen new jobs are expected to be created at the plant.
Founded by managing director Jim McFarlane in 1992, Endura designs and manufactures specialist cycle clothing for road, mountain and commuting biking.
The company, which employs 75 staff, aims to grow turnover from an estimated £18m this year to around £22m in 2013.
Endura has forecast 50% growth in European and US sales this year, and expects exports to account for more than half of its revenue by 2014.
Mr McFarlane said: "This funding means we can accelerate our growth plans and take advantage of opportunities now.
"There's been a lot of negative headlines about the availability and cost of growth financing recently.
"But my experience has been that the funding is available if you have the right support to access it and can demonstrate the commercial benefits that the funding will deliver."