finance 21


Dryer maker innovates product offering with HSBC funding support


HSBC has provided £140,000 in funding to a Dorset-based company which manufactures full-body dryers for the leisure industry, supporting its expansion into the healthcare market


Haystack Dryers was founded in Ferndown in 2000 and has pioneered the design and manufacture of Queen's Award winning full-body dryers for the leisure industry.


Its products can be found at theme parks, water parks, swimming pools and health spas throughout Europe, North America, Australia and the Middle East.


The HSBC finance facility has been used to develop a prototype dryer which has been specifically designed with elderly and disabled patients in mind.


The 'Care Dryer,' is currently in the final stages of development and will be launched to market later this year. Testing has recently been undertaken in a US care home which supports more than 125,000 people.


The new product is expected to


provide a £10 million boost to the company's turnover over a five-year period and create 15 new jobs.


Haystack also has plans to export the dryers to key international markets including North America, the Netherlands and Germany, with additional support from HSBC.


Paul Thomas, managing director at Haystack, said: "Providing care to the elderly and disabled – particularly when it comes to assisting with bathing, drying and dressing – can be time-consuming, costly and often very distressing for the patient.


"With help from our relationship director, Andy Farmer at HSBC, we've been able to develop a product that addresses these issues while helping us realise our growth potential."


Anthony Reed, HSBC's area director in Hampshire and Dorset, added:


"Haystack Dryers is an innovative local company with big plans for the future. This funding package will help the company develop and bring to market a completely new product that has many economic, social and environmental benefits.


"Once the tests are complete and the dryer is launched, HSBC will continue to support Haystack as it looks to export the product to key markets around the world."


To find out more about how HSBC supports businesses, see details below.


Details: Local Corporate Centres 03455-849326 www.hsbc.co.uk/business


Anthony Reed


'For 150 years we have been where the growth is, connecting customers to opportunities. Today, we look after businesses across the region providing tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows.'


Universal Singapore THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – MAY 2016 www.businessmag.co.uk


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