Bed manufacturer Furmanac looks to expansion after new finance deal
A DUDLEY mechanical bed and chair manufacturer has utilised a new finance package to invest in machinery and create jobs.
Furmanac Ltd, founded in 1972, is a family run business and creates high specification adjustable furniture, including beds and lift and recline chairs and sofas, for retailers and customers across the West Midlands.
In order to increase production facilities and meet increasing customer demand, the business approached Lloyds Bank for funding to invest in new machinery and extend its manufacturing space.
The bank responded with the award of a £250,000 Enterprise Finance Guarantee (EFG) loan and the company, which employed 125 people, has used to the money to invest in new plant, which in turn has created 20 new jobs.
The loan has also enabled the firm to refurbish its premises and support marketing and exhibition costs.
John Hilliard, managing director at Furmanac, said: “Furmanac is a family business and we pride ourselves on manufacturing high quality furniture with a luxury finish for our loyal and growing customer base.
“The adjustable bed market has expanded rapidly in the UK. We have seen a growing demand for quality reclining furniture from an array of people of both younger and elderly generations, with the trend for traditional British furniture sourced from local manufacturers becoming increasingly popular.
“The team at Lloyds Bank Commercial Banking has been really supportive, and the funding provided has been crucial in helping us to expand and further increase the standard and variety of the products we have available.”
Adrian Burden, Relationship Director at Lloyds Bank SME Banking, said: “Furmanac is a successful business that has established a reputation as the UK’s leading mechanical bed and chair manufacturer.
“The purchase of new machinery and improvements to its manufacturing space has increased the business’ production facilities and allowed it to expand its product range. This investment and the new jobs that have been created as a result of the expansion, is great news for the continued resurgence of the Midlands region’s manufacturing industry.”
