Cable tie firm secures financial support

A TAMWORTH manufacturing business has invested in new machinery with financial support from Barclays.

Davico has purchased the new Sandretto injection moulding machine with a £87,000 asset finance line from Barclays. The money will allow the firm to increase its capacity to meet high demand for its nylon cable ties.

Davico, a market leader in electrical wiring accessories, was established in 1971 by Brian Davies. It primarily manufacture and distribute cable ties, conduits, PVC tape and other electrical wiring accessory products and employ 45 people.

Over four decades the company has continued to grow, partly as a result of a strategy of investing in equipment and expanding into other areas of the electrical wiring accessories business.

Production director Lee Davies said: “Pivotal to our success has been the continued investment in our business and the establishment of a comprehensive UK and overseas distribution network with emphasis on trade within the European Union.”

Tom Addyman, relationship director at Barclays Corporate Banking, said: “Davico is a good example of a business which has continued to evolve over the years.

“It has continued to make the investment needed in its business and looked overseas to identify new markets.”