Specialist defence and security IT manufacturer, Secure Systems & Technologies (SST) SST Ltd has just announced investment of £400,000 for the upgrade of its cutting edge TEMPEST testing chambers and acquisition of the latest test equipment supported by Barclays Corporate. The Gloucester based business currently has 50 employees and plans to increase turnover to over £7 million in 2012.
SST Ltd, designs, manufactures and tests encryption and communication equipment primarily for the UK Government to ensure cyber security is maintained at all times and already has been involved in producing equipment for the “Watchkeeper” unmanned aircraft project and many other military applications.
Matthew Richards, Managing Director at SST Ltd comments "Our principal business is to test the security of existing systems or build new secure IT equipment for a range of uses. The recent Government spending cuts have meant that we have had to create a leaner more efficient business. By continually investing in the business we have been able retain existing contracts and win new business as we diversify our range of products and services range across different government departments. Our flexibility and agility allows us to offer better value bespoke services without the complex supply chain of some larger competitors.”
Matthew continued "With over 20 years in the defence electronics business the biggest change I have noticed is the timescale. Our clients now want new equipment or solutions to a perceived threat or problem in weeks as opposed to months. The military call them UOR’s (Urgent Operational Requirements) and we are winning more of these contracts as we exploit our flexibility and speed of delivery."
Concluding, Matthew advised “This investment in our business will allow us to maintain our competitive edge and continue to grow the business. The future looks bright, we have a record order book and plans involve expanding our products and services further into Europe and the emerging market countries that will have a huge demand for the technology and products we provide.”
Mike Archer, Barclays Corporate Relationship Director said, “Barclays is committed to using our industry expertise and specialists to support such investment, which are vital to a prosperous economy. By really understanding the business and the industry, Barclays Corporate has been able to support SST Ltd both financially and professionally. It is great to demonstrate that investment within the manufacturing sector is still taking place, with debt funding available to the right proposition.”