Safety product launched following CBILS backing
A Cheshire manufacturer of explosion-proof equipment has launched a new product into the market in the wake of COVID-19.
Extronics, based in Middlewich, provides customers that work in potentially explosive or harsh industrial environments, including the oil & gas, chemical, pharmaceutical, and mining industries, with leading design and manufacture of safe and explosion-proof equipment.
The business has launched the new iTAG X30, which allows the user to accurately locate their workers in hazardous and non-hazardous areas, anytime, anywhere.
Extronics worked closely with Malaysian oil and gas company Petronas to develop the iTAG X30 and expects to receive an initial order for more than 1,000 units from the business.
Despite COVID-19 impacting sales and production, Extronics, which has 42 staff, is progressing with the new product launch to ensure the iTAG X30 is successfully introduced into key markets, in particular the US, Far East and Middle East.
The business was able to proceed with the launch following the support of a six-figure funding package from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS).
Martin Crowe, financial director of Extronics, said: “Although COVID-19 has meant for a challenging few months for the business, the funding from HSBC UK has allowed us to avoid taking the foot off the pedal and continue with our much-anticipated launch of the new iTAG X30 into the global market.
“We are currently evaluating the practicalities of adding social distancing and tracking functionality to the iTAG X30 tag to facilitate a proximity warning – visual, sound and vibration – when two or more worker worn tags come close to each other.”
John Paulson, business relationship manager for HSBC UK, said: “HSBC UK is committed to supporting British manufacturers and Extronics is a great example of a leader in its field bringing innovative British-made technology to the world stage.
“The business truly understands the requirements of its customers and we look forward to seeing the iTAG X30 on the market.”
