Titan Engineers Insurance says that the engineering industry remains tough and that even the renewables sector is having a hard time especially after Government Ministers appear to be sending conflicting messages about wind energy.
One major engineering company which has announced that it would base its wind turbine business in Scotland has since announced that it will be scrapping plans to develop a major business in the country. It has been hoped that the company would create a major multi-million pound base specialising in wind renewables. This would have created 700 jobs and brought much needed money into the local economy.
The company has cited the general poor economic conditions and liquidity issues as the reason it pulled the plug. But indecision over the very future of wind turbines cannot have helped believes Titan.
Chief Executive Officer of Titan Engineers Insurance, Basil Tsapralis, said:
“It’s not good news that a major engineering company in the renewables sector is announcing a withdraw in its Scottish wind turbine business. Given that energy issues are key to the Government’s future, it’s sad to see that one industry which should be a growth area, being itself knocked back by a complex set of factors.
“The UK’s engineering companies are some of the best in the world and they need support to get them through to better times.”
Titan Engineers Insurance is one of the largest brokers in the industry. It believes that competitive pricing and high levels of customer success has provided it with a sound reputation for delivering polices and cover that is both cost effective and appropriate.