Syspal invests £1.25m following deal
A metal-working firm which serves the food and medical industries has invested £1.25 million in its business on the back of a new banking tie-up.
Broseley-bases Syspal has used the money to bring in new machinery and renewable energy products to improve its efficiency and productivity.
The company will also be looking at increasing its sales into export markets on the back of the deal with Lombard Asset Finance, which is part of NatWest.
Managing director Chris Truman said: "Syspal continues to invest in the latest technology to provide our customers a fast, efficient and first class service whilst at the same time stimulating innovation with our technical and production engineers.
"We trusted Lombard because they provided an efficient, and competitive service with minimum fuss."
Lombard Relationship Director, Stuart Mann commented: "The funding we have provided to Syspal is one of their largest capital expenditure programmes in a number of years – the investment will significantly help the growth of the company."
Established in 1975, Syspal is a specialist fabricator of aluminium and stainless steel products for various markets including the food, medical, sports and leisure industries.
The company employs 180 people, and caters for markets at home and abroad.
Its new equipment will allow for faster and more efficient processing of sheet metal components.
It includes a fibre laser cutter which can cut four metre by two metre sheets with automated loading and component picking, an automated sheet metal forming cell, fork lift trucks, and a biomass heating system for the workshop and offices.
Syspal, which is marking 40 years of trading this year, has continued to invest over the years, and last year laid out a total of £1.5 million on reducing manufacturing lead times and increasing production capacity.
The company operates from an 8,500 sq ft facility, and serves thousands of customers in different markets around the world.
