Manufacturer forges ahead with £4.2m worth of funding

A Sheffield-based specialist manufacturer is set to expand with the support of a funding package worth £4.2m from HSBC UK.

Thos C Wild, established in 1929, produces forged rings for applications such as deep sea pipelines to jet engines and rockets.

With the backing of HSBC UK, the business has upgraded its 50,000 sq ft operation through the purchase of a multi-million pound German-made automated punch press, allowing it to scale up production by 70% and reduce waste.

The machine is just the latest strategic investment Thos C Wild has made over the last 12 years, as it competes with manufacturers in Asia. In 2016, the business used funding from the same bank to buy various specialist items of forge and furnace machinery, as well as three new buildings to house its extended production facilities.

The firm anticipates the upgraded production facilities will enable it to boost turnover by 20% in the next 24 months alone.

John Hancock, Managing Director of the company, said: “We operate on a global stage supplying some of the world’s largest engineering groups.

“It is critical we keep striving to employ the best talent and invest in our production facilities to remain a leader in an intensely competitive marketplace. This funding gave us the means and confidence to make this significant investment into the future of our business.”

Lee Manterfield, Corporate Director for South & East Yorkshire, HSBC UK, added: “Sheffield has a proud history of steel manufacturing, so we’re immensely proud to support a market leading and long-established forge in the heart of the Steel City.

“John and his team have considerable experience and knowledge of their markets and are not afraid to make strategic investments to drive productivity and competitiveness. We look forward to seeing the business continue to flourish.”

Thos C Wild currently employs 70 people at its Vulcan Works site, including 18 graduates and apprentices. The company  has seen its organic turnover quadruple since a management buyout in 2005.

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