New Made in Yorkshire Patron, Lloyds Bank has demonstrated its support of the county’s manufacturing sector by investing almost £500,000 in a Leeds metals processor.
Leeds Galvanising and Powder Coating has used £300,000 of the funding on new semi-automated machinery that will help minimise raw material usage and create less waste.
It has also been awarded a £110,000 asset finance line and £60,000 term loan.
Backing for the deal was provided by Lloyds Bank Commercial Banking.
Leeds Galvanising and Powder Coating, which processes metals for uses ranging from balcony railings to bridge sections, will use the machinery to handle an additional 3,000 tonnes of steel on site per year.
The company is targeting new markets as the new machinery will enable it to process large expanses of metalwork of up to four tonnes in weight.
Natalie Hancock, relationship manager at Lloyds Bank, said Leeds Galvanising had grown to become the most successful business of its kind in the North of England.
“This is thanks to its commitment to issues such as environmental management, quality control, and health and safety – each of which ultimately help it to deliver an excellent service for customers,” she said.
“We’ve been by the side of Leeds Galvanising throughout its capex programme, and we’re proud to be supporting the firm again with its latest investment. Supporting businesses to drive sustainability in their respective sectors is key to our plan of helping Britain prosper.”