Rubber manufacturer looks to break into new markets following investmentMember News
A Redditch-based rubber and adhesive products manufacturer has set its sight on growth in new markets after receiving a £450,000 investment package.
Kirkfield Limited, which supplies into sectors including building, construction and automotive, received the financial investment from Lloyds Banking Group, allowing it to relocate to bigger premises and take on an additional four staff.
The company exports worldwide, with a particular focus on Europe, and is now looking to expand into new markets as part of its continued growth strategy.
Our new site provides us with a larger and more suitable environment for our day-to-day operations, helping us to increase our capacity as we work towards our long-term growth ambitions, said Tony Flood, Managing Director of Kirkfield Limited.
The Lloyds Bank investment was fundamental to achieving this objective for our business, and we look forward to our continued work with the bank as we look to further invest in our infrastructure, and build on our already successful export business.
The investment was aided by Lloyds Banks participation in the Government backed Funding for Lending Scheme, which offers competitively priced lending to small and medium sized businesses in all sectors, for the life of their loans.
Ian Monk, Relationship Manager at Lloyds Bank Commercial Banking, said: Kirkfield Limited is a great example of the ambitious manufacturers which are driving the economic recovery, and weve underlined our commitment to the sector by pledging to lend £1billion into firms each year until 2017.
This is aided by our participation in the Funding for Lending scheme, helping to provide further support to businesses by achieving savings over the lengths of the loan, allowing investments in growth plans with no adverse effect on cashflow.