IIT targets growth with new £2.5m investment

A North East -based milling equipment manufacturer has secured new investment as it targets further growth in international bulk materials, glass recycling and powder processing markets.

International Innovative Technologies (IIT) has attracted £2.5m. of growth funding from City of London-based private investors, as the company looks to further expand export sales.

The money raised by IIT will be used for new business development activities and build on the global interest in its patented low energy fine grinding technology which converts hard materials and minerals into fine powders.

As part of the expansion the company will also be adding 10 new jobs at its Team Valley operation with additional design engineering and manufacturing staff and new sales appointments.