Launched in 2007, Altek Europe supports the growth in aluminium production and aluminium recycling around the world. Their products which are manufactured in the UK involve products that reduce energy consumption and promote environmental friendly solutions to help minimise waste. During their first three years of trading their export earnings increased eight fold and today their customers are stretched across the world and include major international conglomerates.
Previously the company operated from rented premises and the move to new premises in Chesterfield is testimony to their impressive growth since establishment. It will also provide opportunity for further growth and it allows them to move some of their previously out-sourced work in-house, by providing more space and capacity for production work.
NatWest have provided Altek with a loan of £500,000 to support the purchase of the new Chesterfield unit. They have also provided further funds to allow the company to undertake some internal modifications.
Speaking about the move Alan Peel, managing director of Altek Europe said: "2011 is turning into a good year for us. We were delighted to receive the Queens Award for Enterprise 2011 and now the completion of the premises move marks the end of a busy few months. Through our continued investment in the design of our products and our extensive international marketing we are experiencing growing order books from around the world as companies continue to be very keen on how they can minimise waste in their aluminium production and recycling processes. The new premises provide us with the space we need to grow the business further and take advantage of the opportunities our global customer base is currently providing. Our hope is that this move will enable us to create more employment opportunities as the year progresses."
Andy Upton, Senior Relationship Manager, Commercial Banking at NatWest who structured the loan with colleagues from the bank added: "Altek Europe is a success story. The recognition of their export led sales strategy provides a valuable endorsement of their business model. The new premises represent the next chapter in their history, creating the infrastructure to increase their output and create additional demand for their products."