A fish processing business in the North of Scotland has received an eight-figure funding package from HSBC, backed by UK Export Finance, as it sets its sights on new international markets.
Peterhead-based Denholm Seafoods, will use the additional finance to support its overseas growth plans.
The pelagic fish business, which processes herring and mackerel caught from sustainable fisheries, is looking to expand in European and Asian markets.
The funding package was backed by a £15m General Export Facility from UK Export Finance, the government’s export credit agency.
The scheme, which was launched last December, has already provided more than £120m for businesses across the UK.
Minister for Exports Mike Freer commented: "Scottish seafood is renowned around the world for its quality and focus on sustainability – and I’m delighted that UKEF is helping Denholm grow and sell more to the world. "
Allan Stephen, director at Denholm Seafoods, said: "Our growth plans are ambitious and, by utilising this funding, we’re excited to enter new markets and grow in existing ones. It is the quality of our product, coupled with this additional funding that will afford us this opportunity.
"As we invest in the future of Denholm Seafoods, we intend to progress the sustainability of our operations, by reducing our environmental impact as we drive the growth of our business forward."
The company currently exports 80% of its product, while the remaining 20% supplies major retailers in the UK market.
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