Lloyds loan fuels new facility for Shropshire manufacturer
A Shropshire manufacturer has completed the construction of its new facility, helping to support a range of high-profile customer projects, including a Netflix film and television set.
Bucknell-based family business, Hornsey Steel Panels and Sections, specialises in metal roofing panels and structured steel products.
Most recently, Samuel Hornsey, who took over as company director when his father Mark stepped down in 2014, led the construction of an operational space that is 2.5 times larger than its previous premises. The site on a former old coal yard will quadruple Hornsey’s product range.
The development was made possible by a £1.5m clean growth financing initiative (CGFI) development loan from Lloyds Bank, a product specifically tailored to support sustainable growth projects.
A trade finance facility also facilitated the import of a £1.3m advanced manufacturing machine from Taiwan, further expanding production capabilities. When the new machine is installed in February 2025, an £800k hire purchase facility will repay the trade line.
With the new facility and equipment, Hornsey has already increased operational efficiency by 25% and expects to increase its turnover to up to £25m this year.
Samuel Hornsey, company director of Hornsey Steel Panels and Sections said: “Our new manufacturing site marks a transformative step for the business. This expansion enables us to meet growing customer demand, significantly broaden our product range, and improve efficiency across the board.
“This investment is about much more than growth – it’s about sustainability, innovation, and supporting the workforce in our local community. Lloyds’ partnership has been invaluable, from securing the development loan to facilitating the import of our new equipment, and we’re excited to see how this investment propels our business forward.”
Jason Gregory, relationship manager at Lloyds commented: “Hornsey Steel Panels and Sections is an inspiring example of a forward-thinking, family-run British manufacturer. It’s been a pleasure to support them in their expansion and sustainability initiatives.
“By combining development finance, trade facilities, and hire purchase solutions, we’ve been able to offer a comprehensive funding package that aligns with their ambitions. We’re excited to see how their new facilities and equipment will further drive success.”
