Thermoseal plots expansion with bank support
NORTH West manufacturer Thermoseal has secured bank finance to support a move into new premises and extra production lines.
The Wigan company, which banks with Barclays, is taking on more space next to its factory at Martland Park where it makes components that are used in double glazed windows.
It has 25% of the UK market and is pushing exports. Total sales are expected to be £22m this year, and the business has hired an extra 29 staff, taking the total to more than 100.
Managing director Gwain Paterson said: “We started out as a relatively small engineering company before we identified a niche in the window industry. Now at the forefront of the glazing components market, we are continually developing new ideas to meet the current energy rating requirements.
“These ideas are being engineered at our sites both in Wigan and in Birmingham. Our aim now is to look at growing our export markets where we are already seeing some early signs of success.”
Richard Fray, Relationship Director at Barclays said: “It is a great example of a business who has continued to invest to accommodate future expansion. This latest funding will enable the business to expand its production lines to meet growing demand for its products and implement its export strategy.”
The value of the finance was not disclosed.
