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26/07/2016

Marine engineering firm Harris Pye secures £2.5million funding package from Finance Wales

Llandow-based engineering firm Harris Pye has ambitious growth plans after a £2.5million investment from Finance Wales.

The funding will help the firm to fulfil its global commitments, allowing the company to bid for new, larger contracts.
 
The £90million annual turnover business maintains and repairs ships, marine facilities, and offshore oil and gas rigs.
 
“The support from Finance Wales has been excellent,” explained Director Mark Prendergast. “We’re in the process of tendering for some big contracts, which we’re confident we can secure thanks to this funding package.”

Harris Pye work with clients in Europe, the Middle East and North America. Founded in 1978, they specialise in repairs and upgrades for sea-going craft. All engineers and technicians spend time training at their Llandow facilities.
 
“Harris Pye has given me the opportunity to develop my skills, confidence and experience as an engineer, working on projects across the globe,” explained Graduate Engineer Tom David. “I feel proud to work for a Welsh-based business that supports its employees’ career progression with practical training and formal qualifications.”
 
“Harris Pye is a great example of an ambitious and successful Welsh business,” added Deputy Fund Manager Bethan Cousins, who structured the deal for Finance Wales. “The team have a wealth of international business experience and are true specialists in their sector. Through their training academy in Llandow they’re also really strong advocates for Brand Wales.” 

In recent years their operations have diversified from marine maintenance into ‘greening’ the sea-faring sector by installing state-of-the-art exhaust scrubbers – which reduce carbon emissions - into cruise liners and cargo transporters.
 
“The environmental benefit of Harris Pye’s work is really exciting,” explained Finance Wales Senior Investment Executive Cenydd Rowlands. “A number of their large contracts are focused on installing new exhaust scrubber-technology, which they have designed to help reduce sulphur emissions. This is a real area of growth for the marine engineering sector and Harris Pye’s specialist knowledge has given them a leading edge.”