Intense raises further funding from investors to fuel next phase of growth as company moves into profitability.
Blantyre, Scotland, 4th November 2005Intense, the award winning UK based global provider of laser module solutions, announces today that it has secured a further funding package totalling £8 million from existing investors.
The further injection of cash into the business follows on from the recent appointment of Scott Christie as CFO. Christie was previously COO at Macdonald Hotels Ltd and he significantly enhances the strength of the Intense management team going forward.
Intense generated sales in excess of £3.5 million during 2004 (£0.8 million in 2003) and is now in full commercial production at its facility in Hamilton. The company’s laser module solutions can be applied across a broad range of industry sectors including printing, medical and defence. Intense is currently working with a number of global customers to identify and build next generation products that will allow them to dominate the markets within which they operate.
Commenting on the recent fundraising David Lockwood, CEO of Intense, said: “I am pleased that our investors have signalled their continued confidence in the business by committing these additional funds for Intense’s growth. We look forward to moving into the next stage of business development with a strengthened balance sheet and an excellent management team in place”.
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