A Coleshill manufacturer of pressed metal components has secured a £560,000 finance package from Lloyds Bank Commercial Banking to expand its manufacturing space and meet growing customer demand for high volume metal presswork, stamping and deep drawing, creating five new jobs.
HT Brigham is a leading supplier of metal presswork and stamping components for a variety of manufacturers worldwide, across many sectors including the automotive, building, medical and gas industries.
The Birmingham office of Lloyds Bank has provided £560,000 of funding to the business, in order to enable it to extend its 30,000sq.ft manufacturing plant on Station Road by 7500 sq. ft. As a result of the expansion, the business now has far greater capacity to undertake large scale customer orders and can significantly increase the quantity of parts manufactured on site.
Funding for was granted using the Funding for Lending Scheme (FLS). As part of this scheme, Lloyds Bank is offering discounts of one per cent to all SMEs in all sectors for the life of their loan.
The facilities provided by Lloyds Bank have also enabled the business to purchase new machinery to increase its production capabilities, as well as investing in a 12-month training programme for its workforce, which it has further strengthened by taking on five new members of staff in the last twelve months.
Established in 1950, HT Brigham has an annual turnover of circa £4million and employs 49 people, with plans to take on additional staff in the near future in line with its ongoing growth ambitions.
Barry Smith, Managing Director of HT Brigham, said: “For more than 60 years, we have prided ourselves on expanding HT Brigham’s capabilities in providing quality metal presswork and stamping components to our global customer base.
“In recent years we’ve experienced considerable growth and, as a result of this, it was vital to extend our manufacturing plant to enable us to maximise the capacity and efficiency of our manufacturing processes on site.
“The Birmingham office of Lloyds Bank has a sound understanding of the mechanics of our business and has worked closely with us to support the expansion, understanding our business strategy and growth objectives and what we were looking to achieve, and we are grateful for the bank’s support.”
Darren Riley, relationship director at Lloyds Bank Commercial Banking in Birmingham, said: “HT Brigham is a well established manufacturing business, providing high volume metal presswork and stamping for its client base UK and overseas, which span across a wide range of industries.
“The company’s global reputation and industry credibility in this highly skilled area of manufacturing is a real catalyst in fuelling HT Brigham’s ambitious growth strategy, and the expansion of the manufacturing space marks a pivotal moment for the business, enabling it to further increase its production capabilities.
“At Lloyds Bank we recognise the importance of manufacturing businesses to support the resurgence of the UK economy. We have a dedicated team of relationship managers who understand the manufacturing sector, and can give businesses like HT Brigham the support and funding to help achieve their growth ambitions.”