Automotive supplier accelerates its growth plans
A manufacturer in Aston which supplies the automotive sector is forecasting growth in turnover and staff after improving productivity and landing a new contract.
Radshape Sheet Metal, which supplies clients including Aston Martin, Morgan and Bentley, has made a significant investment in press brake machines. The new machinery has allowed the firm to improve customer lead time by two thirds, and has enabled it to secure further contracts.
The investment was supported by a £400,000 loan from Lloyds Bank Commercial Banking. The funding has also been used to establish an on-site polishing shop – a new service to its clients.
Keith Chadwick, managing director at Radshape Sheet Metal, said: “We are a well-established business and have grown our reputation amongst some big names in the automotive industry in the last 50 years.
“With more cars than ever on the roads, it’s important that we keep adapting to the increased demands of raw materials by ensuring our technology is as modern and efficient as possible. Lloyds Bank’s support has helped us to take the steps needed to maintain sustainable growth.”
Radshape is forecasting turnover to increase by more than 10% to £5.8m and it plans to create seven jobs, bringing its headcount to 70.
Mark Harnett, relationship manager for manufacturing in the Midlands, said: “Radshape Sheet Metal has banked with Lloyds since day one, and through a series of tailored funding packages, we’ve supported the business as it has won more and more business with renowned global customers, helping Britain to prosper.”