Tuesday, 29 July 2014
masthead+quote+image
Advanced search

Sertec secures £20m funding package

Automotive manufacturer Sertec has secured a £20m funding package from Lloyds Bank Commercial Banking to help fund the relocation of its new head office and investment in new equipment.

Lloyds Bank’s team based on Colmore Row in Birmingham has arranged the deal, which includes a £7m increase in trade finance facilities to support Sertec’s exposure to tool stamping imports from China. The finance package also includes term loan and asset finance facilities to fund future capital expenditure projects, and the deal takes the business’ total funding facility with Lloyds Bank to more than £38m.

Coleshill-based Sertec is engaged in a range of steel and aluminium manipulation and assembly processes, including transfer and progression presswork, tube manipulation, wire forming, deep drawing, welded and self-piercing riveted components. Established in 1962, the business has an annual turnover of more than £130m and employs over 1,000 people at its head office and across its network of global operations. 


Have your say

Mandatory
Mandatory
Mandatory
Mandatory

My saved stories (Empty)

You have no saved stories

Save this article

Digital Edition

The Engineer July Digi Issue

Poll

Should deepening tensions with Russia - and concerns over the impact of economic sanctions - influence the UK's energy policy?

Previous Poll

Europe's largest tidal array in the Pentand Firth off Orkney will eventually generate up to 86MW of power. What will it take for tidal energy to make an appreciable contribution to the UK's energy needs?

Read and comment on the results here