Engineering firm secures £3.6m funding deal
Herefordshire-based aluminium extrusion and fabrication specialist Edmo has secured a £3.6m loan to help maintain supplier payments during the pandemic.
Founded in 1978, Edmo offers specialist aluminium extrusion services and works across a variety of industries, including aerospace engineering and healthcare.
The loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) will enable Edmo to protect its future.
Andrew Stride, CEO of Edmo,said: “Our goal at Edmo is to offer every one of our customers a complete, specialist solution. As a direct result of the pandemic and its immediate affect on trade in the early months of the crisis, it placed huge demands on cashflow generally, but thanks to the support from our Relationship Director at HSBC UK, Lisa Soley, we were able to meet crucial supplier payments and continue to build on our reputation as a reliable, trustworthy business.”
Clare Walker, HSBC UK South West Midlands deputy area director, added: “Edmo has such a rich history and is one of the Midlands’s great engineering firms. HSBC UK was pleased to be able to support the company during the pandemic to ensure it maintained a smooth and operational supply chain.”