Hubert Watson, Managing of Director of Fintec Crushing & Screening Ltd, based in Tyrone has announced a major new multi-million pound development project, with support from Invest Northern Ireland.
Part-owned by Swedish multi-national Sandvik AB and driven by local entrepreneur Hubert Watson, the company is a market leader in the manufacture of mobile crushing and screening equipment for use by the quarrying and recycling industry.
The expansion project will allow Fintec Crushing & Screening to develop an innovative range of mobile crushers and increase its worldwide exporting capabilities.
Invest NI has offered the company approximately £0.5 million assistance towards total project costs to help it improve workshop efficiencies, and research and development processes to strengthen its sales and marketing capability.
As part of the development, Fintec Crushing & Screening have added an additional 55,000 square foot of workspace beside its current base of operations in Ballygawley. It is also anticipated that the new project will create in excess of 75 new jobs in the next 2 years.
Congratulating the company on the project, Leslie Morrison said: “By investing in research and development Fintec Crushing & Screening will be able to bring new and innovative products to market, thereby opening up new opportunities for profit.
“Only by focusing on effective R&D will companies across Northern Ireland be able to extend their reach into new markets, increase their client base and enhance their competitiveness,” he continued.
Fintec Crushing & Screening operates within a competitive but rapidly evolving global market place worth an estimated £1 billion, and growing at a rate of £50-£100 million per year. This new investment will allow it to further diversify and increase its market share.
Commenting on the development Hubert Watson, Managing Director of Fintec Crushing & Screening said: “This new project represents another step in the development of our company and will potentially create a host of new market opportunities. Our success to date has been reliant on creating new and innovative products that exceed customer expectation.
“We realise that only through the diversification of our product range and a comprehensive marketing strategy will we be able to build upon our success and increase our profitability,” he continued.