Labfacility secures new backing
TEMPERATURE sensor experts Labfacility have secured new backing worth £90,000 to support the company’s growth.
Finance Yorkshire and Donbac have both provided loans to help the company invest in new tooling and redevelop its website.
Dinnington-based Labfacility produces temperature sensors for the aerospace and automative industries as well as research facilities, exporting 60% of its products.
Martin Riddett, managing director of Labfacility, said: “A year ago we centralised our operations to Dinnington to cope with the economic climate and the site is now our main production facility with 29 staff.
“This has helped us become more efficient and we are now starting to see an up-turn. We previously received investments from South Yorkshire Investment Fund and we were very pleased that Finance Yorkshire is now up and running and has started to make investments.
“It had been a tough year for the industry, but we’d enjoyed a very good track record with SYIF and needed further investment to take advantage of the growing market. Finance Yorkshire came around at a time when we needed further investment to continue our growth and they have been very supportive.”
Labfacility, which also has an office in Bognor Regis, is now looking to add to their Yorkshire workforce.
David Ward, from Finance Yorkshire, said: “We have enjoyed a long-standing relationship with Labfacility, a company which is a leader in its field.
“This latest investment will ensure their facility in Dinnington continues to grow, attracting new work both in the UK and abroad, which will ultimately increase employment for the area.”
