Shellfood supplier secures cash backing
Scottish shellfood supplier D.R. Collin & Son is set to increase its exports to Europe and Asia with seven-figure backing from HSBC UK.
The financial support will enable D.R. Collin & Son, based in Eyemouth in the Scottish Borders, to increase production capabilities to meet growing demand for British shellfish from its export markets. Its primary export market is France, where the company has recently set-up a subsidiary business to increase designated support. However, demand is also increasing in Spain and Italy, as well as in Asia.
James Cooke, managing director at D.R. Collin & Son, said: “The bank’s support has enabled us to increase our production ability to meet the strong demand for the shellfish we supply in Europe and Asia. HSBC UK understands our global ambition and has provided incredibly valuable insight to support the sustainable growth of our export business. Working with a global bank has also provided synchronicity and efficiencies with operating our business here in Scotland and in France.”
The funding is being provided through a combination of facilities, including invoice discounting.
D.R. Collin & Son was first established in 1952, and currently employs 210 staff across the group. Located near the mouth of the river Eye, where there is a natural harbour for fishing, D.R. Collin & Son sources fish from here and around the UK, with smaller bases in the Highlands and Amble.
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