Import/export divisions set for expansion at hand tool supplier
13th January 2010
Martin Newsome, owner of J Newsome Tools, with Charlotte Jackson, regional manager, at Lloyds TSB Co
A YORKSHIRE firm which already supplies hand tools to retailers and manufacturers across the UK is expanding its overseas business after securing funding.
Sheffield-based J Newsome Tools is creating a new division importing supplied from China as well as expanding its European export arm.
The company used an invoice discounting facility from Lloyds TSB Commercial Finance, which releases the value from its sales ledger, enabling the company to access capital to support investment in its stock.
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