Liverpool boat builder wins £17m navy contract

A LIVERPOOL company which makes high-speed, rigid inflatable boats has won a £17m contract to supply 48 vessels to the Dutch Navy. 

Marine Specialised Technology (MST) will supply three different designs over a two-year period.
  
The company has secured a £2.75m funding package from at NatWest commercial banking in Liverpool which included an enterprise finance guarantee loan and international trade finance.

Founded in 2002, MST supplies boats to the military, coastguard agencies, and the emergency services in Europe, the Middle East and the Far East.

The business, based on Brunswick Business Park close to Liverpool docks, employs 50 staff and turns over £4m.         

Sales director Philip Hilbert said: “The contract is the result of winning an international competitive tender and involved 18 months of hard work culminating in physical testing of our products. The contract is great news for everyone connected with the company. Our approach is to provide a bespoke product which matches the specific customer’s needs and we are confident this will help secure additional orders.”