Dental Implant Manufacturer Neoss is looking to continue its expansion overseas after securing £1m in new working capital finance from RBS NatWest.
The company, based in Harrogate, employs more than 100 people and already has operations in Germany, USA, Italy, Australia, Sweden, New Zealand and Austria. In addition Neoss has exclusive distributors in Switzerland, Thailand, Ireland, Croatia, Poland, Japan, Taiwan and Turkey and is looking to expand sales further into new territories in Asia and Europe in addition to continuing its rapid growth in its existing markets.
Guy Leaver, Neoss Chief Financial Officer with Paul Dawson, Senior Relationship Manager at NatWest
Neoss recently placed 1st in the Growth 100 for Yorkshires fastest growing companies with compound annual growth over the last five years of over 160%.
Guy Leaver, Neoss Chief Financial Officer, said
We continue to expand our presence in Europe, Australasia and North America, and we see further growth potential in these areas as the benefits and awareness of our leading surface technology and products increases. In addition our significant investment in Research and Product Development will see a significant new product launch in Q2 of 2012 which will create further growth opportunities.
It is essential for the business to have sufficient working capital in place to meet its expansion plans and this facility provides us with the necessary cover, and we are really pleased that RBS NatWest have been able to provide this funding.