News: X-Cel Superturn secure funding to support Rotherham expansion
X:Cel Superturn, a global manufacturer of machined components, has secured a £2.8m funding deal to support their expansion onto the Advanced Manufacturing Park in Rotherham.
In April the Attercliffe firm announced that it will expand its current operations to a new 10,000 sq ft facility at the Evolution development after securing a £6m contract.
The finance deal with HSBC will provide the firm with working capital and a loan to support the fitting out of the premises.
The new manufacturing facility will allow the company to increase its production capability and take advantage of new opportunities in the UK and overseas in the petrochemical power generation, aerospace and construction sectors.
Andrew Taylor, managing director at X-Cel Superturn, said: "This is an exciting time for the business. The new premises allow us greater flexibility and production capacity and the new relationship with HSBC provides us with the support we need to drive strategic plans through to fruition."
Martin Nattrass, area commercial director for South Yorkshire at HSBC, added: "The UK is becoming increasingly well-known for its high-end manufacturing and is exporting these highly skilled, quality products to the rest of the world.
"X-Cel Superturn is a prime example of a business in this area which continues to innovate and grow both here in the UK and internationally."
Founded in 1983, Sheffield Superturn flourished as a sub-contract machine shop. Following years of collaboration, Sheffield Superturn purchased X:CEL (GB) Ltd in 2007 and at present, the company has 45 staff and a £12m turnover. The forecast is for this to increase to £18m over the next three years.
X:Cel Superturn was the first major company to confirm an expansion into the Sheffield City Region Enterprise Zone.
X:Cel Superturn website
Images: X:Cel Superturn
In April the Attercliffe firm announced that it will expand its current operations to a new 10,000 sq ft facility at the Evolution development after securing a £6m contract.
The finance deal with HSBC will provide the firm with working capital and a loan to support the fitting out of the premises.
The new manufacturing facility will allow the company to increase its production capability and take advantage of new opportunities in the UK and overseas in the petrochemical power generation, aerospace and construction sectors.
Andrew Taylor, managing director at X-Cel Superturn, said: "This is an exciting time for the business. The new premises allow us greater flexibility and production capacity and the new relationship with HSBC provides us with the support we need to drive strategic plans through to fruition."
Martin Nattrass, area commercial director for South Yorkshire at HSBC, added: "The UK is becoming increasingly well-known for its high-end manufacturing and is exporting these highly skilled, quality products to the rest of the world.
"X-Cel Superturn is a prime example of a business in this area which continues to innovate and grow both here in the UK and internationally."
Founded in 1983, Sheffield Superturn flourished as a sub-contract machine shop. Following years of collaboration, Sheffield Superturn purchased X:CEL (GB) Ltd in 2007 and at present, the company has 45 staff and a £12m turnover. The forecast is for this to increase to £18m over the next three years.
X:Cel Superturn was the first major company to confirm an expansion into the Sheffield City Region Enterprise Zone.
X:Cel Superturn website
Images: X:Cel Superturn
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