Jaguar Land Rover supplier boosts capacity with £1.3m funding deal

A STAFFORDSHIRE automotive components manufacturer is set to increase annual turnover by 30% after securing a £1.3m funding deal.

Cannock-based RSD Pressings produces a range of parts for seating, sub-frames, cross car beams, bumpers, and body parts. Customers include Aston Martin, Jaguar Land Rover, Nissan, Toyota, BMW and Ford.

After reaching full capacity at its unit on Progress Drive, Bridgtown the firm decided to buy two acres of land nearby on the A5 Watling Street to build a new 33,000 sq. ft. manufacturing facility.

The new building will accommodate more machinery and enable the firm to increase capacity to meet demand.

A more efficient operation is set to boost the business’ annual turnover from £4.6m to £6m by the end of 2017.
 
The purchase and development of the new site and investment in new machinery was supported by a working capital facility from Lloyds Bank Commercial Banking. The meant the firm could complete the expansion without affecting its monthly cash flow.

Daniel Burton, operations director at RSD Pressings, said: “As we have expanded our client base, it became clear we had outgrown our old, smaller site.

“The space was limiting our potential to work with new and current customers, and the land in Cannock has facilitated the start of a period of exciting growth for the business, whilst offering room for further expansion in the future.

“Lloyds Bank has supported the business for more than 30 years, and understood our decision to invest in the land. As we look to become more competitive in a busy marketplace, we know we now have the spatial capacity to do so.”

Mark Meakin, Relationship Manager for SME manufacturing at Lloyds Bank Commercial Banking, said: “This year the automotive space has witnessed the highest production rates since the millennium. For RSD Pressings, relocating to a new, larger unit is a natural step towards meeting the opportunities that this presents.”