Electronics manufacturer poised for fresh expansion
A WARWICKSHIRE electronics manufacturer is targeting continued growth after capitalising on a finance package from the Coventry and Warwickshire Reinvestment Trust.
Stratford-upon-Avon-based AES was the recipient of a small business loan from the CWRT in 2010 and in the intervening period has undergone significant expansion.
The Mason Road business, which now employs 24 people, is embarking on fresh growth by expanding its premises with a £165,000 investment in new facilities. This will help to automate much of its manufacturing process so it can service a growing client base.
Nigel Maris, owner and managing director of AES, said the business has survived some tough times but was now in a position where it could push on and capitalise on growing demand.
“CWRT really believed in me and my commitment to make my business succeed,” he said. “I am grateful for their service, funding and advice.”
Mike Musson, chief executive, CWRT said: “It’s extremely rewarding to see businesses that we have supported prospering. We have invested £4.8m since our first loans in 2005, with more than 350 businesses, leading to the creation of 500-plus jobs.”
CWRT, which lends between £1,000 and £75,000, utilises European and UK government loan funds to provide growth capital for start-up businesses. The loans can be used for a variety of purposes, including equipment purchase, relocation costs and workforce expansion.
“We are committed to our role in growing the local economy by supporting small and start-up businesses with finance. As a not-for-profit specialist finance provider, we have gone from strength to strength over the last 10 years as we provide fledgling businesses with access to critical affordable funding which they might not be able to get elsewhere,” added Musson.
