British refrigeration manufacturer Adande revealed it is targeting a turnover of as much as £30m within the next three years as it lead a cabinet minister on a tour of its factory last week.
The company welcomed Secretary of State for Foreign and Commonwealth Affairs, Philip Hammond, to its Lowestoft headquarters, along with Peter Aldous, the Conservative MP for the local Waveney constituency.
Mr Hammond was briefed on Adande’s track record for product innovation and eco-pioneering initiatives in the field of foodservice refrigeration, as well as the company’s export growth, which has seen it develop sales channels in Europe, Asia and the Americas.
The company currently generates sales of around £5m a year, but bosses at the firm expect that figure to grow to between £20m and £30m by 2018. It also anticipates doubling its workforce to 60 people in the same period.
Adande manufactures a unique and patented refrigerated drawer system used in a wide variety of foodservice applications, ranging from fine dining to quick service restaurants. It is a supplier of refrigerated storage for McDonald’s and KFC in the UK.
Peter Aldous said: “I was very keen for Philip to come up here and see what I have seen over the last four years: how Adande has grown and is moving forward. They are up for the challenge and pursuing export markets around the world. This is the type of business that we need to be encouraging and helping to facilitate their growth.”
The visit came hot on the heels of an announcement of funding for the further development of Adande’s patented Aircell airflow management system for refrigerated retail display cases.
Adande will be receiving a grant of £2.1m and a loan of £380,000 as part of a £4.2m project the company is leading with Plas-Tech Ltd and Bond Retail Services Ltd. It will create up to 97 jobs and safeguard 144 jobs.
Ian Wood, managing director of Adande, said: “We have made a significant investment in the design and development of Aircell, with recent in-store trials bringing the technology within the realms of commercial viability. The award of the grant and the equity investment, which we are currently seeking, will enable us to fine tune Aircell to meet the specific needs of retailers for sustainable refrigeration, offering tangible energy savings and an improved shopping experience.”