AYRSHIRE-headquartered manufacturing firm, Hyspec Engineering, has welcomed a £500,000 funding boost from UKSE as it secures an impressive pipeline of new contracts and reinforces its commitment to supporting the local economy through job creation.
A leading provider of sub-contract precision engineering in the oil and gas, defence, aerospace and renewables sectors, Hyspec Engineering has recently secured a long-term multi-million contract with a key customer for new subsea exploration equipment.
2022 saw Hyspec Engineering enjoy its highest order intake since 2018. The funding from UKSE will provide the firm with business confidence to continue building its portfolio of clients across the globe, particularly as post-pandemic recovery is continuing to create new opportunities in the oil and gas and defence sectors.
To ensure demand is met, Hyspec Engineering is expanding its team with an ambitious recruitment drive planned for over the next 18 months that will create 15-20 new roles for the Ayrshire region, boosting the existing head count of 90.
Its dedicated apprenticeship programme in partnership with Kilmarnock College welcomed 3 new recruits in October, which brings the total to 5, which will offer both practical and academic skills to apprentices and create much-needed employment opportunities for local residents.
Michael Douglas, finance manager at Hyspec Engineering, said: “We are incredibly proud of the consistent responsive and reliable service that we provide to our customers and the funding package from UKSE has enabled us to embark on an exciting new chapter of growth.
“Working with a diverse range of companies, we are proud to be a one-stop-shop for all precision machining needs and the demand from our customers is testament to the quality of the products we supply.
“Imperative to Hyspec Engineering’s legacy is making a positive impact on the local economy. That’s why we are significantly investing in a recruitment drive and enhancing our apprenticeship programme to ensure we are future-proofing the firm with a skilled workforce.”
Terry Quinn, regional executive at UKSE, said: “Hypsec Engineering is a prime example of a Scottish firm that is a force for good within local communities. It is excellent to see the level of investment it is making into expanding the team as it works with local education centres to provide a competitive apprenticeship programme.
“UKSE is proud to support its ambitious growth and we look forward to seeing the firm go from strength to strength.”