A Birmingham-based engineering business which specialises in the design and production of technical ceramics has increased its product range and created new jobs thanks to Clydesdale and Yorkshire Banks.
Precision Ceramics, which is part of the McGeoch Technology group, creates bespoke and advanced technical ceramic components. Technical ceramics, which are more resistant to heat, wear and corrosion than metal or plastic parts, are used in industries including aerospace, nuclear power generation, electronics and oil and gas.
The business received a six figure funding package from Clydesdale and Yorkshire Bank’s Birmingham business and private banking team in order to invest in capital equipment and grow its product range.
As a result of the firm’s expansion, Precision Ceramics has increased the number of staff it employs by 20%.
Founded in 1992, Precision Ceramics offers a complete service from procurement and supply through to technical design and specialist machining. Two years ago the firm expanded its premises as part of plans to acquire new machinery and introduce new products. Its specialist parts are now finding their way into an increasingly diverse range of industries.
Steve Swallow, managing director of Precision Ceramics, said: “Our parts can now be found on three planets – Earth, Mercury and Mars - and in a wide range of applications from satellites to Formula 1 cars.
“Clydesdale and Yorkshire Banks have been crucial to developing our business. With support from their experienced staff we have been developing components with increased tolerance and are now able to offer ceramics that we previously could not.
“Clydesdale and Yorkshire Banks are helping us to push the boundaries of what can be achieved with technical ceramics.”
The deal was delivered by James Oliver, relationship manager in Clydesdale and Yorkshire Bank’s business and private banking team in Birmingham.
Richard Wallace, head of the Banks’ local business and private banking team, said: “Precision Ceramics has consistently shown that it is an ambitious business with the drive and commitment necessary to achieve its growth aspirations.
“We are pleased to support a local business which is supporting the local economy and creating job opportunities.
“Our specialist knowledge of and focus on different sectors helps to bring a challenge to the market giving small and medium sized businesses the speed and flexibility they require to achieve their growth ambitions.”