A Leeds metals processor has invested more than half a million pounds in new machinery to meet growing demand for sustainable products, with support from Lloyds Bank Commercial Banking.
The business has invested £300,000 in new semi-automated machinery that will help it to minimise raw material usage and create less waste, with the help of a £110,000 asset finance line and £60,000 term loan.
The machinery will help the business, which processes metals for uses ranging from balcony railings to bridge sections, to handle an additional 3,000 tonnes of steel on site per year. It will now be able to process larger expanses of metalwork of up to four tonnes in weight too, opening up the business to new market opportunities.
This is the firm’s second tranche of investment in the space of a year. In 2018, it spent £220,000 on machinery that helped the company to cut its raw material use by a third.
This assisted the business in securing ISO 14001 accreditation for environmental management – an International Standard that recognises organisations that have improved their environmental performance through more efficient use of resources and reducing waste.
Since securing the ISO, the business has grown its revenues by 10 per cent to £7.5 million. The firm also hired six staff in 2018 and intends to create five new roles to further grow its processing capacity.
Simon Kelly, MD at Leeds Galvanising and Powder Coating Ltd, said: “Firms in the building products supply chain are striving to be more sustainable, and we’re seeing a high demand for end-products with a smaller carbon footprint.
“With Lloyds Bank’s help, we’ve made significant investments in our facility to improve our efficiency and to cut waste. Now that we’ve secured ISO accreditation, many more customers are choosing our services, helping us to grow our market share and to create new jobs.”
Natalie Hancock, relationship manager at Lloyds Bank, said: “Leeds Galvanising has grown to become the most successful business of its kind in the North of England.
“This is thanks to its commitment to issues such as environmental management, quality control, and health and safety – each of which ultimately help it to deliver an excellent service for customers.
“We’ve been by the side of Leeds Galvanising throughout its capex programme, and we’re proud to be supporting the firm again with its latest investment. Supporting businesses to drive sustainability in their respective sectors is key to our plan of helping Britain prosper.”