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News Release

Glasgow

Derek Mackay MSP Inspects Clyde Corrosion Expanding Base at Westway Park, Renfrew


Clyde2.jpegGlasgow, 11th April 2013 - Clyde Corrosion, a leading provider of metal finishing solutions, corrosion coatings and thermal spraying to a wide range of sectors, including oil and gas, nuclear and pharmaceuticals recently welcomed Derek Mackay MSP to its expanding base at Westway Park in Renfrew. Mr Mackay had a walk-round tour of the facility and met with Clyde Director Bonnie Lowson, Jim McSporran of Clyde Surface Coatings and Mark Holmes from park owner Moorfield Group.

Recent expansion at Clyde has been fuelled by the acquisition of former Doosan company ICSE, to create a new subsidiary company Clyde Surface Coatings, which is co-owned by Bonnie Lowson and Jim McSporran. This acquisition, as well as diversification into new markets, including the renewables sector, will see headcount double by the end of 2013 and turnover targeted to rise steadily over the next five-years. During 2012 the company also secured the prestigious Investor in People and ISO9000 accreditation and is now working towards achieving ISO1400 and ISO1800 accreditation during 2013.

“Our company has achieved a series of milestones and is now in great shape to exploit significant market opportunities in 2013 and beyond” said Bonnie Lowson. “We have enjoyed considerable growth recently and needed extra space to develop the businesses - a number of our clients are based here and Westway continues to be our preferred location. I’ve been based at Westway for more than 15 years now and have witnessed significant changes and improvements. It provides the quality of space we are seeking, plus the landlord continues to be responsive to our business requirements by offering flexibility and options for future expansion.”

“The expansion of Clyde Corrosion signals good news for both the Scottish and Renfrewshire economies added Derek Mackay, MSP for Renfrewshire North and West. “Clyde Corrosion is a great example of a company that is continuing to invest in its people and its facilities to maintain a competitive edge in today’s challenging economy. It is pleasing to see such an aspiring company continuing to expand and prosper at Westway in Renfrew.” 

The company has signed up for a 14-month lease on Block F, Unit 2, which extends to 10,000 sq ft and has also has agreed a 10-year lease extension at Block F, Unit 1, which extends to 40,000 sq ft. plus an additional 17,000 sq ft at Block G Unit 3 on a deal which will be reviewed on a quarterly basis, depending upon business requirements.

Commenting on the property deals, Mark Holmes, asset manager of Moorfield Group (owner of Westway Park) said: “Clyde Corrosion is a growing business and we welcome their expansion at Westway. We take a proactive approach when dealing with occupiers and always try to support business development where we can.” 

Andrew McCracken from joint agent Jones Lang LaSalle added: “The park provides the ideal environment for growing companies like Clyde Corrosion. It continues to prove extremely attractive to a range of occupiers and we are very pleased by the continuing high levels of interest.”

Joint agents Jones Lang LaSalle and James Barr advised Moorfield Group, whilst Clyde Corrosion was self-represented.

NOTES TO EDITORS:

Clyde Corrosion has just launched a new revamped website which is available at: www.clydecorrosion.co.uk

Westway Park offers excellent connectivity to the whole of Central Scotland, with Junction 27 of the M8 only 3 minutes drive away.  Glasgow International Airport lies immediately adjacent and Prestwick International Airport is only 42 miles away.  Westway benefits from having its own private dock facility on the White Cart Water which accesses the River Clyde. This provides an alternative shipping solution particularly for large products that are unsuitable for transport by road. Other occupiers include Doosan Babcock, Aggreko plc, Nippon Express, Amey Highways, Steel Engineering and James Fisher Defence. Westway was acquired in May 2004 and is owned in a joint venture between Moorfield Group and Westbrook Partners. For further information, please visit: www.westway-park.com

Moorfield Group (Moorfield) is a UK real estate and related private equity fund manager, with some £2 billion currently under management through the Moorfield Real Estate Funds (MREFs). Moorfield is the proactive asset, development, operational and financial manager of its Traditional (retail, office and industrial) and Alternative (healthcare, leisure and residential) real estate investments. Moorfield directly acquires single or multiple assets, or indirectly invests through corporate vehicles, including joint ventures. Moorfield supports entrepreneurial management teams that want to grow their real estate businesses or that want to take specific advantage of market opportunities. Moorfield also provides mezzanine and structured finance solutions where appropriate as well as acquiring debt whether related to single asset, multiple asset or corporate structures. For further information, please visit: www.moorfield.com