Engineering firm to create jobs after landing £250,000 funding line

Grimsby-based engineering company, Fowler & Holden, is set to expand its manufacturing facilities and invest in new machinery following a £250,000 funding package from HSBC UK.

The cash will allow Fowler & Holden to add new and repurposed factory space to house a new second moulding line and a new plant room. The move will increase production capacity by up to 80% and create up to 14 new jobs.

The firm will also invest in new equipment, including a sand recycling machine that will allow the business to re-use 95% of the sand from its casting process.

Tim Brooksbank, director of Fowler & Holden, said: “The support from HSBC UK has been invaluable in allowing us to fulfil the requirements to secure our domestic supply chain through the expansion of our facilities and investment into a second moulding line. Increased government investment into infrastructure coupled with rising international delivery costs has meant that there is more demand for our products and this funding from HSBC will allow us to grow our business domestically and create new jobs to benefit the local economy.

“We’re also extremely proud to be reducing our environmental impact as a result of the support, proving that foundries and manufacturing facilities can also contribute to sustainability.”

Theodora Akuffo, business banking relationship manager at HSBC UK, added: “Fowler & Holden has demonstrated a clear commitment to manufacturing quality products in a more sustainable manner whilst growing its business in a way that benefits the local community, and we look forward to contributing to its future success.”