01/06/2010

Altech Software secures £610,000 to grow Vision For Food

Altech Software Ltd has secured £610,000 investment as part of a strategy to market its Vision For Food software applications for the food manufacturing industry.


Vision For Food offers integrated systems to benefit the technical, production and new product development disciplines in food manufacturing companies worldwide and replaces all paper based recording systems for food safety compliance, quality assurance, specification, recipe and process control. The company, which has an office in Hong Kong, has established its headquarters in Cwmbran, South Wales, from where it will promote its solutions and support its customers. Finance Wales will invest a total of £300,000 equity in the business, with the Welsh Assembly Government providing an additional £310,000 grant through its Single Investment Fund.

“We have a tried and tested product that is already being used to great success by key businesses in the food manufacturing sector. We wanted to source additional funding to develop and grow the business and the commercial investment from Finance Wales and grant from the Welsh Assembly Government was pivotal,” said Alan Blyther, Managing Director of Altech Software Ltd.

He added: “Vision For Food addresses information management in the factory - referred to by many in the food industry as the ‘black hole’ - and is designed to monitor and manage flexible processes that are not well served by existing systems. With Vision For Food in place, management can improve efficiency, enhance quality and safety compliance whilst reducing waste, improving customer service and margins at the same time.”

Ieuan Wyn Jones, Minister for the Economy and Transport, said he was pleased the Assembly Government had been able to support the business and that it was launching its innovative new systems from Wales. “Technology driven companies like Vision for Food have the potential to make a real impact on the global market and are the type of business we want to encourage and nurture in Wales. They have the potential to play an important role in the future growth of the economy in Wales and in our economic renewal programme. I am delighted that funding from the Assembly Government and Finance Wales is helping to drive its growth.”

Jocelyn Brown, Associate at Finance Wales, said: “Altech has the ability to tap into a very large global food manufacturing market where systems and processes are critical at all stages. The investment provided us with an exciting opportunity to be involved in a company already making a difference within the food industry and with potential to develop that even further through its access to the fast-growing Chinese market.”