A Dalgety Bay business is flying the flag for Fife after securing multi-million-pound contracts for the Ministry of Defence.
Sign Plus Ltd said it is targeting a major increase in turnover to more than £3.1 million in 2015 after the new MoD agreement, the largest single deal in its 22-year history, and also being named as the only Scottish supplier to the £10m-plus North East Universities Purchasing Consortium.
The MoD deal is for flags and ensigns and signs and labels and is expected to generate sales of £5m over the four years of the contracts.
The university framework agreement will see the company manufacture and install signage at a range of educational establishments which come under the NEUPC umbrella.
The firm which operates out of two sites in the Fife town said the MoD deal is “hugely significant” for growth, and it has plans to bolster its in-house workforce to 36 staff over the coming months to keep up with demand.
The new deal builds on a long-term relationship between the company and defence chiefs which has seen Sign Plus provide Ministry departments with everything from health and safety notices for major military bases to Union Jack decals for the side of tanks.
“These major contracts were won on price after a rigorous tendering process involving 13 competitor companies, and will necessitate an increase in personnel numbers,” a spokesman for the Hillend Industrial Estate-based firm said.
“This is not just great news for Dalgety Bay and Fife but, with the bulk of the contracted items being produced in partnership with key suppliers in the UK, it is also good news for the UK manufacturing industry.
“Sign Plus already hold BAE contracts to supply safety signage for the two QE (Queen Elizabeth) class aircraft carriers under construction at Rosyth dockyard and currently await the outcome of a number of other significant contracts with major clients, so the good news story is poised to continue.”
Chairman Ken Richards said the new agreements were a huge boost.
The MoD deal will see the company supply naval installations and army and aircraft bases across the UK, including Leuchars and Lossiemouth, and overseas.
“We design, manufacture, install and maintain all types of signage and sign systems, but we also supply visual communication products from printed items to corporate workwear and corporate branded gifts,” Mr Richards said.
He said turnover in the last financial year, to the end of September, was around £2.25m, but they were expecting that to rise by about 40% to £3.1m in the current financial year having secured these two contracts.
“The university framework agreement involved a very rigorous tendering process and we are the only company in Scotland to have been appointed to that.
“Nationally that is worth more than £10m and, while a large proportion of that will be in England, we would expect a fairly significant amount of work.
“The value of the MoD contract is £5m of guaranteed business over four years.”
Mr Richards said the new agreements meant Sign Plus is entering 2015 with confidence and the firm is determined to expand its operations even further.
“We have an annual conference each year which key managers attend where we set out our business plan for the year ahead,” Mr Richards said.
“This year we are obviously looking to grow business with our regular clients, but we are also taking a massive step forwards with these new contracts.
“Now we have to look to build on that success.”