Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
A statement said the agreement comes after the Coast has seen a 25% increase in export sales in the last 12 months, without providing a specific figure.
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Waterfront Fluid Controls was established by Neil Betteridge in 2006, following the expansion of his former business, Waterfront Engineering Services, which he had established 10 years earlier. Mr Betteridge, who moved from installation to manufacturing and supplying fluid control equipment, has worked with Jash since 2013, becoming the main buyer of its products after winning a major contract with Thames Water on the Thames Tideway Tunnel, London’s “super sewer”.
Jash Engineering was founded in 1973 and has its headquarters located in Indore, as well as four manufacturing facilities across India and one in the United States. It also has bases in Austria and Hong Kong, and exports products to more than 45 countries.
In addition to the deal, Jash has invested £500,000 in the Seaside manufacturing facilities, which will see the factory expanded and the office fully refurbished.
Mr Betteridge, director of sales and marketing, and Liz Niven, director of operations, remain in their posts following the deal and retain shares in the business.
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He said: “The business has grown arms and legs now. All our colleagues have remained in the business and we are employing new staff to carry out the additional manufacturing elements here in Glasgow.
“It’s a huge expansion. Jash is already well established, and this is a route to the UK and markets they haven’t had before. It’s a very good fit between the two companies.”
Accountancy firm Armstrong Watson’s corporate finance team advised partner Richard Gibson and assistant manager Ellis Kerton on the deal, along with corporate tax partner James Fraser. Mr Betteridge was also supported by Ralph Riddiough and Finlay Swan of Holmes Mackillop solicitors.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
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