Copperchase wins business deals in Iraq

A £200,000 loan, granted by the Tees Valley Catalyst Fund, has been used by Copperchase. Tees Valley Catalyst Fund is managed by FW Capital. The aim of Copperchase for borrowing the amount is securing the required performance bond from Lloyds Banking Group.
The company boats of having a profile to work in the Middle East region, especially in large engineering and construction sectors.
Copperchase director Paul Boydell said: “We were pleased to win the Karbala refinery contract which will hopefully lead to even more work in the region. We’ve won a number of significant projects in recent years, but this is our largest to date and the Tees Valley Catalyst Fund loan was vital in helping us to fund the performance bond we needed.
“We believe this contract will really showcase our technical and project management capabilities and be the springboard we need to win even larger contracts in future.”
The Tees Valley Catalyst Fund was developed by Tees Valley Unlimited (TVU), the Local Enterprise Partnership for the Tees Valley to provide companies in the Tees Valley with the finance to grow and prosper.
Last October, access to the fund was widened to businesses across the North East and in parts of North Yorkshire.
TVU’s managing director, Stephen Catchpole said: “The award to Copperchase demonstrates how the Catalyst Fund unlocks business opportunities and enhances a company’s ability to secure significant contracts and deliver growth.”
Copperchase is basically specialized in developing air traffic control systems. After becoming global market leader in air traffic control sector, the company decided to expand business by diversification. It set up its Middle-East projects business to take advantage of opportunities in construction and infrastructure, and has built up its presence in the region.
FW Capital investment executive, Chris Johnson worked with Copperchase to provide the short-term loan.
He sated, “Copperchase has really expanded its overseas presence since it was first established in 1990. In recent years, the team has set up the company’s Middle-East offices to take advantage of opportunities in emerging markets like Iraq.
“We’re delighted to provide them with the financial backing needed to deliver this contract. Copperchase has a great deal of experience with large global engineering and construction companies and is an excellent example of a North East company making its mark on the world map. This contract has the potential to boost Copperchase’s prospects significantly.”
Copperchase operates from its headquarters in Cramlington, Northumberland with offices in Poole, Dorset, The United Arab Emirates and South Korea.