A Yorkshire manufacturer of concrete garages, workshops and light industrial units is set to increase its turnover by a third this year after investing in new production technology.
Featherstone-based Hanson Garages, which operates throughout the UK, has invested in a semi-automated concrete dosing and handling machine after gaining asset finance backing from Yorkshire Bank Leeds Financial Solutions Centre (FSC) through its Investing for Growth initiative.
The new machine, part of a series of acquisitions including a conveyor system for recycling chippings, a new molding machine for concrete panel manufacture and an articulated vehicle equipped with forklift facility, will help Hanson Garages increase its capacity, expand its product range and guarantee high production quality. The investments have helped create seven new jobs in management, sales and production.
Hanson Garages managing director, Giles Hanson, 44, who took the business over in 1994, says: “Recent changes in our industry now mean that we are the second largest manufacturer in the industry and have a significant opportunity to expand. These investments are achieving this and we are on track to deliver a 30 per cent increase in our productivity this year.
“About 85 per cent of our business is in the domestic concrete garage market supplying the general public with the rest in manufacturing light industrial units and batteries of garages. We have been with Yorkshire Bank for many years – they helped us to move to our three-acre, 33,000 sq ft headquarters at Green Lane Industrial Estate in 2005 and have been very supportive again in spite of the tougher financial outlook.
“The market in which we operate is very competitive and customers are obviously feeling the effects of the government cuts and austerity drives but we have built a good reputation during the last 17 years and this gives confidence to our customers.”
Hanson Garages, which has 50 staff and a £4m turnover, operates through the UK with most of its orders, which are supplied through approved distributors, coming from within Yorkshire and Humber although it is currently also fulfilling major contracts in Portsmouth and Grimsby.
Yorkshire Bank Leeds FSC asset finance partner, Jonathan Smith, says: “We are seeing encouraging signs of growing interest in asset finance from business which, like Hanson Garages, have seen an opportunity to invest in technology and grow and also from companies which simply cannot run existing machinery or technology any longer profitably. We’re pleased to have supported Hanson Garages and are confident that the business will achieve its growth targets.”
Yorkshire Bank’s Investing for Growth initiative enables businesses to take advantage of loan repayment holidays, interest-only repayments and extended loan and credit terms designed to take advantage of quality growth opportunities. Businesses signing up to the package can re-invest the cash into their operation for expansion, new staff, equipment, machinery and commercial development.
Yorkshire Bank’s Leeds FSC, Manor Road, includes more than 80 corporate, commercial and private banking specialists operating in multi-discipline teams encompassing corporate banking, private wealth management, treasury services and credit and operates a traditional method of banking with funding from deposits used to support investments in the local community.