An Anstruther-based pigments manufacturer is expanding its premises and increasing exports thanks to a large injection of cash.
Metaflake, which produces high quality aluminium pigments for the plastics, ink and coatings industries, has obtained a £350,000 loan from Clydesdale Bank’s Regional Business and Private Banking Centre in Edinburgh.
The firm acquired the funds to build a new warehouse and storage area at its manufacturing base on Station Road.
Expanding the site will enable the firm, which currently employs 16 staff, to increase production and create four new jobs.
Founded 16 years ago, Metaflake uses a unique process, developed by its own in-house engineers, to produce pigments.
Not only is it more environmentally friendly than traditional, solvent-based aluminium pigment production, it is also cheaper - as it is less energy and capital intensive.
The company currently has a turnover of about £2million
John Brebner, of Clydesdale Bank, added: “It’s great to see a Scottish firm which is also driven by Scottish research and development thriving in export markets.”