Manufacturer boosts capacity with investment
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A window fabricator has increased its capacity after investing in new machinery with the support of a six-figure asset finance loan.
Sutton Coldfield-based Flair Plastic Products has used the £430,000 funding package to purchase four specialist machines to cut window and door frames more efficiently and with greater accuracy.
The new kit also includes a highly technical welder, which uses brand new technology to melt and weld plastic before binding a seamless product.
Founded in 1998 by the Lugg family, the business now has an annual turnover of £13m. Flair employs more than 100 people across its four Midlands hubs with its head office at Minworth Industrial Park in Sutton Coldfield and further outlets in Castle Bromwich, Lichfield and Coventry.
With the investment from Lloyds Bank, the firm has also expanded its delivery fleet with the purchase of four new 7.5 tonne lorries, to deliver to its growing customer base more efficiently across the UK.
Peter Lugg, managing director at Flair Plastic Products, said: “We want to increase our rate of growth, and investing in this new cutting-edge machinery means we’re even better placed to build on our existing manufacturing capabilities at a time when we’re seeing strong demand for our products.
“We are very proud to be a family business and the Lloyds Bank team has helped us to maintain our family values while supporting our growth journey. We look forward to continuing to work closely with them to execute the next phase of our development.”
Julie Cranmer, associate director, asset finance at Lloyds Bank Commercial Banking said: “Flair Plastic Products has a well-earned reputation in the manufacture of high-performance glazing products and has achieved exceptional growth in recent years. The firm is always looking for new ways to expand and increase its market share and this investment in new machinery, as well as its vehicle fleet, is testament to this commitment.
“We’ve worked with Peter and the Flair Plastic Products team for more than two decades and have seen the firm continually innovate to ensure they maintain the highest standards of service and product. We will continue to champion independent businesses like Flair in achieving their ambitions, as part of our commitment to help Britain prosper.”