Midlands engineering firm receives seven-figure funding package to drive growth

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05/12/2017

Midlands based engineering firm Pre-Met Ltd has received a £1.8million finance package from Yorkshire Bank to assist with its growth plans.

Pre-Met, which is based in Redditch, was established almost 100 years ago and has established a reputation as one of the most highly skilled in the field of metal pressing and stampings, equipped with state of the art machinery and technology. Pre-Met specialises in manufacturing components of a complex nature for clients around the world and in a range of industries.

The company plays an important role in the local community, employing 65 staff, mostly recruited from the surrounding area. The funding, which includes Invoice Discounting, Asset Finance and Treasury facilities, will enable Pre-Met to continue its growth strategy.

The deal was delivered by Peter Brooke, Commercial Banking, and Dave Hewitt, Asset Based Lending, Yorkshire Bank.

Continuous innovation

Steven Haynes, Managing Director at Pre-Met Ltd, said: “We’ve built our reputation on continuous innovation and investing in the best equipment. There is a significant demand for our services around the world and the funding will ensure we can continue to grow and meet that demand.”

Peter Brooke, Relationship Manager, Commercial Banking at Yorkshire Bank, said: “Pre-Met is a highly respected firm and their reputation is well earned. I’ve seen first-hand the expertise and technology that is required to manufacture these precision components, and we were delighted to have the opportunity to play a part in the ongoing growth of this ambitious business.”