NatWest commercial banking helps Cheshire manufacturer open new production site
A Cheshire-based manufacturer of concrete blocks used in the building industry has expanded its operations by opening a new production site in North Wales.
14 March 2011
Cheshire Concrete Products ("CCP") has made a significant investment to commence aggregate concrete block production at the former Marshalls PLC site at Llay in North Wales, which closed 18 months ago. Cheshire has formed a new subsidiary company - Clwyd Concrete Products - to operate the facility.
The 10,000 sq metres Llay site is more than double the size of CCP's Middlewich base and will provide them a much needed increase in manufacturing capacity. The concrete block market has been under supplied for the last two years as many manufacturers pulled out of this sector following the downturn in the construction industry.
During this period demand has outstripped supply at CCP resulting in the company being unable to meet the growing market needs. CCP has several customers that operate sites in North Wales and the company is confident that this manufacturing facility will greatly increase its presence in the Welsh market.
CCP was founded in 1971 and traded as a division of Pochins Plc until 2006, when directors Jim Woodyear and Paul Blanchard completed a management buyout. The company, which has a turnover in excess of £3.5m, supplies its products to most of the large builders' merchants groups, including Jewson, Travis Perkins, Buildbase and Huws Gray.
Paul Blanchard, CCP Operations Director, said: "The Middlewich site has been operating at full capacity for some time and unfortunately we have had to turn a lot of business away. By establishing Clwyd Concrete Products we now have a significantly increased manufacturing capacity to meet this demand and we are also confident that it will help attract new businesses from the Welsh market."
NatWest commercial banking in Warrington have worked and supported CCP with an undisclosed funding package that included working capital and asset finance to help launch the North Wales subsidiary.
Mike Baird, NatWest Relationship Manager, said: "CCP performed well during the tough times in the construction sector and is now in a good position to capitalise on the improving conditions in the market. The launch of the North Wales site demonstrates the strength of the business and we are very happy to support their plans."
For further information please contact:
Mark Lester
Regional Communications Manager, NatWest
Tel: +44 (0) 7917 598 585
mark.lester@rbs.co.uk
Posted In
Tagged
Latest news
RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.
RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.
RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.