Rubber firm stretches growth plan after new funding deal

A WORCESTERSHIRE rubber and adhesive products manufacturer has moved into new premises following a £450,000 funding deal.

Redditch-based Kirkfield is now targeting fresh expansion having used the opportunity to create four new jobs.

Founded in 2001, the company is a leading manufacturer of rubber, sponge and adhesive products which it supplies to a wide range of sectors, including the building, construction and automotive industries.

The company, which employs 12 people, exports worldwide, with a particular focus on Europe, and is now looking to expand into new markets as part of its continued growth strategy.

With the help of the financial package, the firm has purchased a newly refurbished 9,500 sq ft unit on Washford Industrial Estate. The business has completed a bespoke fit-out, including enhanced floor layout to help it achieve greater efficiency in its day-to-day operations.

Following the move from its previous premises in Bromsgrove, the company has set about meeting the increasing demand for its products.

The investment was aided by Lloyds Bank’s participation in the Government-backed Funding for Lending Scheme, which offers competitively priced lending to SMEs for the life of their loans.

Tony Flood, managing director of Kirkfield, said: “Our new site provides us with a larger and more suitable environment for our day-to-day operations, helping us to increase our capacity as we work towards our long-term growth ambitions.
“The Lloyds Bank investment was fundamental to achieving this objective for our business, and we look forward to our continued work with the bank as we look to further invest in our infrastructure, and build on our already successful export business.”

Ian Monk, relationship manager at Lloyds Bank Commercial Banking, said: “Kirkfield is a great example of the ambitious manufacturers which are driving the economic recovery, and we’ve underlined our commitment to the sector by pledging to lend £1bn to firms each year until 2017.

“This is aided by our participation in the Funding for Lending scheme, helping to provide further support to businesses by achieving savings over the lengths of the loan, allowing investments in growth plans with no adverse effect on cashflow.”