Manufacturer Trancerie Emiliane in £750k funding fillip
THE UK arm of an Italian engineering company is to buy its Wirral premises as part of a £750,000 funding deal with a new lender.
Trancerie Emiliane has switched to HSBC Commercial Banking and now plans to buy its manufacturing site at the Croft Business Park, Bromborough.
The facility produces electrical steel laminations and components for transformers, chokes and electrical motors and employs eight people.
The deal with HSBC will support growth aspirations and give provide greater flexibility over its finances. The funding comprises a £200,000 commercial mortgage, and a £550,000 overdraft facility.
The Bromborough site is one of four Trancerie Emiliane premises in Europe. Headquarterd in Parma, the company has two sites in Italy and one in Slovakia. It parent company has annual sales of €100m.
Director Spencer Lawrence, said: “The funding from HSBC to purchase our property is a great step for us in developing our business and showing customers our commitment to the UK. We were very impressed with HSBC’s flexibility and also the quality of its online business banking service HSBCnet, which has made our day-to-day transactions much more manageable.”
Rikki Griffiths, HSBC’s area commercial director for Liverpool, said: “Trancerie Emiliane is a great example of a leading international business that prides itself on quality research and cutting edge technology.
“It’s great to see a business that is successful on a European level investing in the North West region and growing an important business to the local economy.”
