Manufacturer doubles footprint as it aims to add £1m to turnover
A manufacturing supplier in Warwickshire has doubled its operational footprint and created new jobs.
Following a significant uptick in demand for its products, in part fuelled by increased vehicle wait times since the pandemic, Leamington Spa-based Protec Group has seen its annual turnover increase by 30%.
Now, the business has invested in a larger facility next to its original site, doubling its workspace to 10,000 sq ft, as it looks to increase its annual turnover by a further £1m this year.
The move has allowed Protec to establish a dedicated assembly line at the new site and introduce a new range of services, such as leather wrapping, whilst also helping to bolster its existing capabilities in electric vehicle manufacturing.
The expansion, which was supported by a £400,000 loan from Lloyds Bank, has already created three new jobs within the firm’s assembly line team and it’s hoped that a further four team members will join Protec by the summer.
Lee Horton, managing director at Protec, said: “We’ve worked with Lloyds Bank for more than 15 years, including when we purchased our first unit, so we were confident that they would be the right partner for our latest expansion.
“As a business that started in a serviced office where there was no room for any equipment or machinery, it’s fantastic to see how much we’ve expanded over the years. Our philosophy has always been to look at the areas where we see the highest level of demand and invest in them. The new space has enabled us to win more production lines from clients and give both the business and the team more opportunities to grow.”
Jessica Fox, relationship manager at Lloyds Banking Group said: “We are proud to be supporting Protec as it aims to expand its business and invest in its team. The business has been able to support its clients with a greater breadth of work, from manufacturing highly specialised car parts, to providing consultancy, and we’re pleased to be part of their journey.”
