Family-run engineering business splashes out on lasers
90 year-old family-run engineering firm PCT is investing more than half a million pounds in new machinery, creating five jobs as it looks to grow.
The Sheffield-based subcontractor is replacing two plasma cutters with a Bystronic fibre laser.
The company received a Sheffield City Region Business Investment Fund grant of £50,000 to go towards the capital investment.
The remainder of the funding package has been financed by PCT which employs 70 and operates across three large sites in Holbrook, Sheffield.
PCT, a family run business which celebrated its 90th anniversary last year, manufactures up to 50,000 towbars each year.
James Harding-Terry, managing director, said the investment would enable the £6m turnover company to achieve substantial growth.
“We’re keen to continue growing and this funding will allow us to purchase a highly sophisticated laser which will have an enormous impact on productivity and quality.
“There is significant opportunity to grow the sub-contract side of PCT and the new laser will also allow us to rival our European towbar competitors on both price and quality.
“Jobs have been safeguarded and new ones will be created from next month. This is a very exciting time for PCT, its employees and customers.”
Sir Nigel Knowles, chairman of Sheffield City Region Local Enterprise Partnership, said: “Sheffield City Region is pleased to be able to support this investment which will create jobs and boost growth at this established family-run business.
“We are working on a number of technology-driven initiatives and the Business Investment Fund was set up to help companies, such as PCT, to grow and create jobs.
“Enterprise has always been at the heart of what we do in Sheffield City Region and, with this Bystronic fiber laser, PCT will be better able to compete and further strengthen its reputation on a national and global stage.”