Laser precision for Secal's investment
A laser-cutting business in Telford is to introduce new machinery after securing a six-figure finance package.
Secal Laser, which offers a range of sheet metal fabrication services, is to add new machinery to its paint plant after securing the deal with HSBC.
The company, which has already secured around £2.5 million to replace its four lasers in the last four years, hopes to use the equipment to improve the efficiency of its plant on the Halesfield Industrial Estate.
Managing director Roger Lavender said: "The paint line is already there, but we are putting in a fully automated booth that will give us a high level of consistency and quality, and the machine we are putting in recycles about 97 per cent of waste powder.
"Last year our powder spend was about £160,000, and if we can look at recycling half of that the six figure sum melts into insignificance. It has an 18-month payback.
"We are not looking at major growth, as we don't have the square footage to achieve it. The focus is on improving efficiency and this new plant is a great start for that."
Secal was launched in 2001 as part of the Secal Group, but is now a standalone business.
It has around 75 staff – including five apprentices – and turns over around £6.5 million a year.
The business currently has a strong foothold in the shop fitting market, but now hopes to diversify the business, using its latest efficiencies to improve its overall financial performance.
Mr Lavender added: "What we really want is a good foothold in two or three blue chip companies across five or six different market sectors.
"At the moment we have a foothold in shop fitting and retail, and one good business in many of the others.
"It's about creating stability, which is our primary objective."
The funding package is from
HSBC's new leadership team, which has been appointed to support mid-sized businesses in Shropshire and the Black Country.
The deal was one of the first undertaken by the new team, which has seen Paul Turk appointed as its area director, with Gary Burton as regional director.
Mr Burton said: "Companies like Secal Laser are ambitious and innovative, and I am delighted that our new corporate team was able to support Secal with the installation of a new paint line.
"The West Midlands is a real hub of industry, in particular the automotive sector.
"Mid-sized businesses are a huge part of that success and, as this new study shows, their contribution has been overlooked for too long."
Mr Lavender added: "Since we started out in 2001 we have come a long way, and we now offer services that are a far cry from those early days.
"We are keen to expand to meet growing demand and HSBC's new corporate team was there to help.
"The funding secured will enable us to invest in our production line and ensure we maintain our upward trajectory."
