To learn more about Insider events, use the tap below:
In September, we offer two special sections, our . . .
An investment programme of 350,000 euros has been received through an engineering company founded in Wolverhampton to support its projects in its infrastructure and create employment with a site expansion of 1. 5 million euros.
Lloyds Bank Commercial Banking provided financing to Varlowe Industrial Services, which was established in 2003.
The company supplies specialized coded welding, metal manufacturing, CNC machining and specialized pipes to a wide variety of customers, adding Jaguar Land Rover, BMW and West Midlands Safari Park.
As part of its expansion plans, the company purchased abandoned assets alongside its existing Wednesdayfield facility to expand a new production facility.
Construction, which has been delayed due to the coronavirus pandemic, is expected to be completed next month.
The new construction is 4 times the length of the original Varlowe Industrial and provides the company with enough capacity to accommodate larger and more complicated CNC machines.
The additional area will also allow the company to diversify its offering to new and existing customers, adding plans for a responsive troubleshooting service.
The company, which recently employs 37 people, plans to create at least 10 new positions over the next year since its expansion.
Director Steve Varden said: “We have great ambitions to build and invest in more complex machines in the near future, so extending the length of our site will give us the infrastructure we want to do this.
“This will also expand our service offering, which we hope will increase our production grades and lead us to generate higher revenue. “
“The Lloyds Bank team has been very proactive in supporting us in this expansion project, regularly doing everything imaginable to make a stopover on us and make sure everything goes well.
“Its has been critical to our expansion and we look forward to proceeding to paint along them as we transition to our new site. “
Rob Taylor, Director of Commercial Banking Relations at Lloyds Bank, added: “Varlowe Industrial Services is a high quality company with interesting expansion plans.
“The progression of the new site represents the final bankruptcy of the company’s continued expansion and will have a significant effect on helping to achieve its ambitions.
“We are proud of corporations like Varlowe Industrial Services as they invest in their ongoing expansion strategy and will support Midlands companies as a component of our commitment to helping Britain thrive. “