Hayes pumps six-figure investment into concrete producer

THE man credited with the rescue of engineering contractor Motherwell Bridge is pumping a six-figure sum into a Borders concrete business as it looks to ramp up capacity.

Hugh Hayes, who was parachuted into Motherwell in 2003 just months before the firm was hauled back from the brink through a 30 million refinancing deal, will also take up the chairmanship of Kelso-based Eildon Concrete Products (ECP).

Eildon was set up two years ago to acquire the concrete products operations at Kelso's Eckford Quarry. The firm produces ready-mixed concrete from its own fleet of mixers and manufactures panels for agricultural buildings and feed and water troughs.

In addition to providing working capital, the investment by Hayes will allow Eildon to install a third production line, which will "significantly" increase capacity at the Eckford site. The company is also looking to exploit its transportation links to the north of England.

Hayes, who takes up the post of non-executive chairman, will work alongside company founder and managing director Humphrey Watson to grow the business, which posted turnover of 500,000 in its first full year of operation.

Hayes said: "Eildon is a terrifically innovative and fast-growing business. Humphrey has done a fantastic job to develop the company to where it is from a standing start. This is a great success story for the Scottish Borders and I am convinced of its potential to become a major employer in the area."

Watson added: "Hugh brings with him considerable business acumen, and his breadth of knowledge and range of contacts will be a huge asset in the development of ECP.

Last year, Hayes moved to a part-time role as non-executive chairman of Motherwell Bridge after seven years as executive chair.