Vehicle body manufacturer, Lincoln Commercial Bodies has announced the purchase of new, bespoke site thanks to significant funding support through Natwest.
According to Lincoln Commercial Bodies, the almost £1m funding package from Natwest will see the manufacturer relocate to headquarters that are significantly larger than its current premises, complete with advanced facilities and improved equipment.
The firm currently has 30 employees, but following the move from Crofton Close to Allenby Road Industrial Estate it plans to hire several new staff and do its part to fill the skills gap by taking on apprentices.
In a boost to the local economy, Lincoln Commercial Bodies is also aiming to increase productivity and footfall, and grow turnover from its current level of £2.5m.
- Making UK manufacturing great again
- Entries to UK Export Excellence Awards now open
- Barclays to help UK SMEs unlock £34bn opportunity
- New report identifies success drivers for manufacturing servitization
Lincoln Commercial Bodies director, Simon Knaggs explained: “There are so many benefits to this move for us, not only in terms of improved working conditions for our employees, but also the opportunity we now have to embark on a new phase of growth.
“We built this business from the ground up after my previous employer went into administration, and we’ve made significant progress, but without support from NatWest, we may not have been able to make this move at all.”
NatWest relationship manager, Garry Wilkinson commented: “The next year or so will be very exciting for Simon as he looks to take full advantage of the positive changes that the move will deliver, both for his business and the local community.
“I am pleased that we have been able to support Simon and his team with their growth aspirations. The purpose built property will give the business improved working conditions for staff and greater capacity and efficiencies. I very much look forward to continued working with Simon for the exciting next chapter of the business.”