Manufacturer gears up for expansion following major investment
Derbyshire-based manufacturer All British Precision is set to accelerate its growth plans after investing almost £1 million in new machinery.
The company provides precision-machined components to the aviation, automotive and healthcare sectors.
With the support of Lloyds Bank Commercial Banking, the Ashbourne firm will expand its production capacity by automating elements of its high-end precision milling and turning operation.
Lloyds has provided a £950,000 asset finance facility to accelerate the company’s growth.
The new machinery has been provided by DMG Mori.
The firm, which was formed following the merger of Howardson Engineering and Medicione, has boosted its turnover by 400 per cent to £2 million and seen its employee base grow from five to 27 since its inception.
Richard Allen, managing director at All British Precision, said: “The recent purchase of three new CNC machines has been a real game-changer for us in terms of the level of outputs we’re able to deliver and the types of sectors and clients we’re now able to target.
“The equipment also provides a new level of automation which gives our engineers more time to work on new projects and help the business to continue meeting the evolving demands of the market.
“The team at Lloyds Bank has been incredibly supportive throughout this process, giving us the confidence to continue investing in new technology and realise our ambitions of becoming a world-class sub-contractor of precision machined components.”