UK: JDR Gets USD 23 Mln Boost from HSBC

JDR Cables, a leading provider of custom-designed and manufactured subsea power cables, umbilical systems and reeler packages for a broad range of applications, has been boosted by a £15m fund from HSBC, the Gazette Live reports.

Martin Boden, JDR’s Chief Financial Officer was quoted as saying: “JDR has grown hugely. We now employ 246 at Hartlepool and hope to carry on increasing our headcount. We have recently won a very large contract for the German market, and America is also waking up. It’s a very strong position to be in – the future is bright for Hartlepool.

“We are delighted to have secured the additional facilities provided by HSBC, with the support of the ECGD, and these facilities will enable JDR to continue to bid for, and win, large export contracts.”

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Subsea World News Staff , August 03, 2012