Lombard funding provides edge for Cutting Technologies

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Lombard funding provides edge for Cutting Technologies

A Barnsley-based business, which provides laser cutting and engraving services, has invested £150k to boost its production capabilities after securing funding from Lombard, the asset finance arm of The Royal Bank of Scotland.

Cutting Technologies Ltd has purchased a new Eurolaser XL3000 laser cutting & engraving system from the German-based manufacturer. The high-speed machine is one of only a handful in the UK and will increase the company's cutting & engraving capacity, allowing it to process materials up to 3000x2000mm.

Established in 2003, Cutting Technologies provides its cutting and engraving services to more than 500 customers across the UK. These span numerous industry sectors such as architectural, fabrication, precision engineering, retail, interiors, food and pharmaceuticals.

The company's lasers operate 24-hours a day, five days a week, cutting and engraving numerous different materials including steel, aluminium, wood, plastics, rubber, paper and card. Cutting Technologies has a turnover of £2.5m and employs 28 staff at its base on Zenith Park.

The additional production capacity provided by the new machine enables Cutting Technologies directors to target new business, particularly in the architectural & design markets, where the company is experiencing growing demand for its services.

Martin Cook, Cutting Technologies Managing Director, said: "Since the business was formed we have made regular investments to our production facilities in order to remain competitive. An essential part of our future growth strategy is to have the most modern equipment on site. This latest investment ensures that we can continue to quickly respond to the needs of both existing and new customers."

Arif Munir from Lombard and Andy Tyas from RBS provided the funding. Arif, a Lombard Relationship Manager, said: "Cutting Technologies is a well run business that is always looking to improve its performance by investing in new technology. This investment is will undoubtedly strengthen their production process and help them maintain a competitive edge in the market."

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