County Durham-based cable manufacturer, ATAG Cable Solutions turned a business threat into an opportunity, putting expansion plans into action with the help of a second investment from the Finance for Business North East Growth Fund, secured through NEL fund managers.
ATAG designs, manufactures, tests and supplies a wide range of high quality, high performance reliable cables for all types of industries, with particular expertise in the electronics, oil and gas, marine and energy sectors.
It was the first to manufacture 'solar' cable for the energy industry and also the first to design and produce 'antimicrobial' cable additive which is widely used in hospitals and medical centres across the UK to provide protection against MRSA, Ecoli and other diseases.
In March 2015, the Newton Aycliffe-based firm found itself facing a significant bad debt after a key customer in Cumbria went into administration, but it quickly moved to alter its business model by buying some of its customer’s assets and expanding its service offering to include cable assembly and temperature controls.
A six-figure investment from the Finance for Business North East Growth Fund has helped to turn the business around, supporting the recruitment of skilled staff, development of new products and achievement of key industry quality standards.
Andy Graham, managing director at ATAG and operations director, David Hazeldine, will tell the story of how they overcame the challenges to grow a successful company at a business networking event at NETPark Incubator in Sedgefield at 8am on 7 June 2016.
This event is free-of-charge to NETPark Net members and our Affinity members. Non-members: please email firstname.lastname@example.org to attend as a guest.
This event is supported by North East Finance.
Written by Dawn Dunn, North East Finance.