D3O announces expansion after securing new funding
10/04/2015
The UK-based company said on making the funding announcement that it would invest in plant and machinery as well as in expanding its team of chemists, engineers and designers. New facilities will include a state-of-the-art innovation and development centre in the UK, which will be the global knowledge hub of the company. US expansion will include a new sales and marketing office, and in Asia D3O will open a dedicated testing and production facility.
D3O’s 15 patented materials have high shock-absorbing properties that make them suitable for use in impact protection products in markets such as footwear, sports clothing and equipment, workwear and military protection. Specific recent applications include the STX Stallion lacrosse helmet from Schutt Sports.
The company delivered revenues of around £10 million in 2014, marking the second consecutive annual increase of 50%. Over 90% of D3O revenues are export, with 40% of sales in the US. This international approach helped the company achieve a Queen’s Award for Enterprise, a distinction given to UK-based companies for export performance, last year.
The new funds announced today will support the further growth, powering further innovation, international expansion and new facilities in the UK and abroad.
Chief executive, Stuart Sawyer, said: “This investment will allow us to place more emphasis on product development and international marketing, which will enable us to maintain our market leading position in impact protection solutions.”
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