Bank investment provides foundations to futureproof NW industrial business
A Bury-based heat treatment specialist is expanding its capacity and headcount after funding from Lloyds Bank.
The undisclosed package will help WHT Holdings meet increasing demand and futureproof its business.
WHT offers the heat treatment of metal components, and other surface engineering processes, to customers in the aerospace, motor sport, pharmaceutical and surgical sectors. The funding has allowed it to invest in a new hot isostatic pressing (HIP) machine – the second to be sold in Europe, and fifth worldwide – as part of plans to grow and become more competitive in the market.
Funding from Lloyds was also used to upgrade a 2,500 sq m centre to house the new machine. This is expected to be running at full capacity with a 24/7 shift pattern from 2024 onwards. So far, the business has made five additional hires to its 245-person strong workforce, and this will increase once the complete shift pattern is up and running.
Over the next five years, WHT plans to invest £20m in its business. This includes purchasing a second HIP machine next year, with capacity for a third unit to be installed in the new centre later down the line.
Simeon Collins, WHT director, said: “Investing in this new machinery has allowed us to offer our customers a service that not only helps them to increase output without compromising on quality, but also generates growth for our own business.
“The funding from Lloyds Bank has been instrumental in helping us futureproof our business and position ourselves as leaders. Now we can continue to build trust with big customers in the power generation, defence and surgical sectors, as well as aerospace and motor sport, by being able to improve the life and quality of their components and products.”
Ria Kelsall, relationship manager at Lloyds Bank, said: “The business is embarking on an impressive growth plan over the next few years, and we’re proud to be by its side as it continues to unlock new opportunities and cement itself as a key player in the European and global markets.”
