Ad
Ad
Ad
Ad
Ad
SMT & Inspection | September 24, 2007

Electrolube Enters Partnership with Fortis

Electrolube, a division of HK Wentworth Limited, and a manufacturer of electro-chemicals for the electronics industry has entered into partnership with Fortis, one of Europe's top 20 financial institutions.
The initial affiliation will run for two years, with the possibility of extension. Fortis' investment is set to impact significantly on Electrolube's international sales and technical support and Research & Development capability.

Fortis, an international provider of banking and insurance services to personal, business and institutional customers, has provided additional funding of approximately £1.1million to HK Wentworth following the production of a five year business plan and has to date invested £2 million into the Group.

Ron Jakeman, Managing Director of HK Wentworh comments, “We are delighted to enter partnership with Fortis, our European Banker. The funding will enable Electrolube to bring to the market new products currently under development and expand global market share. It will allow us additional resources in terms of sales and technical support in Europe, China and Australia, and additional product testing and development resources in terms of people and equipment."

Joe Duane, Relationship Director Commercial Banking at Fortis Bank, says: "We are very pleased to have HK Wentworth as a customer of Fortis and we look forward to working with the management team by providing a mix of funding to facilitate its growth both in the UK and across Europe."

Electrolube's high performance electro-chemicals are used internationally by a variety of market segments from automotive, military, industrial and consumer electronics to aerospace, marine, telecoms and medical. The partnership will have an impact on Electrolube's capability to provide customer service through improvements to R&D and technical support.The initial affiliation will run for two years, with the possibility of extension. Fortis' investment is set to impact significantly on Electrolube's international sales and technical support and Research & Development capability.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
December 13 2017 10:15 PM V8.9.2-2