A Scottish firm that makes malt extracts used in the food and drink industries has secured £2.8 million funding from HSBC to support a drive to increase exports.
East Lothian-based PureMalt will use a range of products from HSBC as it looks to ramp up sales and build its reputation in key markets such as Asia Pacific, Latin America, Europe, Middle East and Africa.
Owned by Bruce Turner, PureMalt describes itself as a world leader in the manufacture of refined malt extracts.
The company's success in overseas markets helped it raise sales by 6% annually, to around £12.4m, in the year to March.
Mr Turner said: "Having experienced a rapid growth in trade opportunities with new overseas markets, I was looking for a banking partner with a strong global presence."
The company previously banked with Bank of Scotland.
Mark Tate, head of commercial banking Scotland at HSBC, said: "PureMalt is the sort of business that never stands still. Since it was established in 1972 the business has demonstrated great vision, constantly changing and adapting to the opportunities and threats within this well-established market. In recent years, this has been most notable in terms of the innovation of products for developing international markets."
PureMalt has 65 staff on a site in Haddington that contains a has mill dating back to 1180 AD.
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