Friday, October 24, 2014

News: Panel Systems invests in Rotherham facility

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Panel Systems, a leading manufacturer of decorative and composite panels, is celebrating opening a dedicated CNC machining and cutting services factory at Waleswood in Rotherham, after securing a grant of £90,000 via the Regional Growth Fund (RGF).

Panel Systems Ltd, which operates from Parkwood Industrial Estate in Sheffield and at Waleswood Industrial Estate in Rotherham, is in its 40th year and specialises in the production of high quality panels for a wide range of industries, from caravan production, construction, craft through to children's playgrounds.

The company has made a total investment of £150,000 in plant and equipment at Waleswood, forming a dedicated new CNC Machining & Cutting services division. The investment includes the latest 3-axis and 5-axis machines which offer precision cutting, routing and machining for a full range of board materials.

The company has also established two other dedicated divisions – Architectural & Composite Panels based at Parkwood Industrial Estate and Foam Fabrication & Distribution also based at Waleswood Industrial Estate.

Establishing the three dedicated divisions has also led to the creation of ten new roles across its business in the last three months.

Chris Ibbotson, managing director of Panel Systems, said: "This is a very exciting time for our business. With three clear dedicated divisions, we have ambitious plans for the future, based on our expertise and use of the latest technology.

"We are delighted to have been awarded Regional Growth Fund (RGF) funding from the LEP's "Unlocking Business Investment" programme which has enabled us to invest in our new factory and it is fantastic to be able to create new jobs here in Sheffield in our 40th year."

The Sheffield City Region Local Enterprise Partnership secured £32m from the Government to run the "Unlocking Business Investment" programme and provide grants of between £25,000 and £2m to support companies using their own funding to make direct business investments that ultimately lead to creating sustainable, private sector jobs. Business investments include capital projects which involve investment in equipment, machinery and tools; alterations to land and/or premises to meet the needs of the business. Grants can also be used to support new research and development.

The programme was fully committed in August but further funding is expected to come forward through the £325m Growth Deal that was signed off by the Deputy Prime Minister, Nick Clegg, yesterday.

Panel Systems website
Sheffield City Region website

Images: Panel Systems

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