Technical ceramics firm looks to grow following finance deal

A BIRMINGHAM-based engineering business which specialises in the design and production of technical ceramics has increased its product range and created new jobs.

It follows the firm receiving a six figure funding package from Clydesdale and Yorkshire Banks.

Precision Ceramics, which is part of the McGeoch Technology group, creates bespoke and advanced technical ceramic components.

Technical ceramics, which are more resistant to heat, wear and corrosion than metal or plastic parts, are used in industries including aerospace, nuclear power generation, electronics and oil and gas.

The business received a funding package from Clydesdale and Yorkshire Bank’s Birmingham business and private banking team in order to invest in capital equipment and grow its product range.

As a result of its expansion, Precision Ceramics has increased the number of staff it employs by 20%.

Founded in 1992, Precision Ceramics expanded its premises two years ago as part of plans to acquire new machinery and introduce new products.

 Steve Swallow, managing director of Precision Ceramics, said: “Our parts can now be found on three planets – Earth, Mercury and Mars – and in a wide range of applications from satellites to Formula 1 cars.

The deal was delivered by James Oliver, relationship manager in Clydesdale and Yorkshire Bank’s business and private banking team in Birmingham.

Richard Wallace, head of Clydesdale and Yorkshire Bank’s local business and private banking team, said: “Precision Ceramics has consistently shown that it is an ambitious business with the drive and commitment necessary to achieve its growth aspirations. 

“We are pleased to support a local business which is supporting the local economy and creating job opportunities.”