Secure Trust Bank Commercial Finance has provided a £5m invoice finance facility to BCW Manufacturing Group, as the automotive manufacturer looks to expand its factory space and production line.
To support growth plans, Secure Trust Bank Commercial Finance has provided £5m funding to BCW, which will be used to fund the expansion of the company’s existing site with an 80,000 square foot development. The bolstered headquarters will see the creation of a dedicated state-of-the-art automotive machining facility and additional warehouse space.
With increased capacity to take on new business, the expanded headquarters is set to create up to 50 new jobs at BCW over the next three years.
David Green, regional sales director at Secure Trust Bank Commercial Finance, said: “BCW is well placed to tap into the country’s growing manufacturing industry, with the UK set to be the world’s fifth largest industrial nation by 2021. This funding places the company in an excellent position to cater to new business demands and increase its product range – we’re pleased to support BCW’s development as the business continues to grow and build on its innovation in the coming years.”
“We are delighted to have won these new contracts against stiff global competition and this expansion will be a major boost for BCW, for Burnley and the wider Lancashire economy, creating several new hi-tech jobs in the process.”
Since its inception in 2002, Burnley-based manufacturer BCW has developed automated lines, tooling, work holdings and mistake prevention systems, to provide value-added products to customers.
With a client base including Aston Martin, Bentley and Jaguar Land Rover, BCW currently has a turnover of £26m.
Claire Whelan, joint managing director at BCW, said: “We are delighted to be unveiling plans for this specialist automotive facility to accommodate our expansion in automotive manufacture as a result of securing new contracts of a substantial size with prestigious automotive manufacturers.”
In February this year Secure Trust Bank Commercial Finance provided an £8m asset based lending facility to UK luggage manufacturer Antler.