Tratos boosts funding line with HSBC deal

MERSEYSIDE cable manufacturer Tratos UK has secured a £6.9m finance package from HSBC to support its expansion.

The Italian group is investing £20m to significantly expand the size of its factory close to the M57 in Knowsley where it makes industrial cables used by the power distribution energy and the offshore energy sector.

Tratos, which employs 40, has already received £3m in the fourth round of Regional Growth Fund and a £3m loan from the Chrysalis fund towards the project.

HSBC said its finance would support a decision to start manufacturing high voltage cable in the UK. New contracts are expected to double UK revenue to £40m over the next year.

Tratos secured the funding from HSBC’s Liverpool commercial team, in a deal led by senior international commercial manager Dan Peacock. The company has also moved its full day-to-day banking requirements to HSBC.

Finance director Kevin Martin said: “We have some very exciting plans for the UK business, which will see us broaden our manufacturing capabilities and widen the range of products we can offer to our customers in the UK and overseas.

“We believe now is great time to invest in our business and HSBC is the best strategic banking partner for us due to its commitment to UK business, but also its international footprint.”