Asset finance enables investment and job creation at CTR Lasers

Posted on 17 Apr 2013 by The Manufacturer

Northampton-based CTR Lasers secured £160,000 of funding for new equipment which has led directly to the creation of four jobs at the SME.

CTR Laser manufactures laser cutting machines and other cutting and engraving technologies. It also distributes Computer Numerical Control software.

The capital investment comes after the company moved to a new 9,000  sq  ft facility to accommodate its expansion.

The plant investment was made using £160,000 made available via the HSBC Asset Purchase Scheme which is supported by the Government’s Regional Growth Fund (RGF) and targeted at expanding SMEs.

CTR Lasers has also received £300,000 from RGF to assist its growth intentions.

The four jobs created as a direct result of the capital investment include one apprentice position.

CTR Lasers is a family run business, with Managing Director Neil Pritchett at the helm, son Luke in charge of production and daughter Donna managing administration.

The equipment finance funding was arranged through HSBC’s Northamptonshire, Milton   Keynes   and North Bedfordshire Commercial Centre, with HSBC Commercial Manager Ramesh Mistry leading the deal on behalf of the bank. Commenting on the decision to commit funding to CTR Mr Mistry said: “Made  in  Britain  carries  a  brand  premium,  so  it is fantastic to see equipment  that  has  been designed in the UK also being manufactured here.HSBC’s  Assisted Asset Purchase Scheme is designed to help businesses, such as  CTR  Lasers, that want to invest in assets and to take on new staff, or secure existing jobs.”