Engineering firm funds new machinery through RBS loan

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Engineering firm funds new machinery through RBS loan

An engineering firm which provides precision milling for industries including aerospace and defence has made a major investment in new machinery with help from RBS.

L-R Garry Horne, RM at NatWest; Rab Duncan, MD at Contract Solutions and Suzanne Smith from Lombard.

The new machines enable the company to engineer bigger components, achieve higher levels of accuracy faster turn around times and improved lead times for customers.

Contract Solutions has also recruited an additional three team members, and has already seen its turnover increase to £1m this year, up 50% in the first nine months alone.

Gap in precision engineering market

The Fife based firm was founded by Director Rab Duncan at the peak of the recession in August 2009. His two engineer sons Graham and Jamie had recently been made redundant so teamed up with Rab, who has a business background, to fill the gap in the high quality end of the precision engineering market.

The business provides precision milling for a global customer base from the telecoms, aerospace, motorsports, defence and automotive industries. The 10-strong team are currently working on developing parts for bionic hands, a growing market especially in the USA.

Duncan says: “In this business, quality and delivery rule; the new piece of equipment supports this.  We were at the stage where this investment was pivotal to meeting customer demands.  With further expansion, a new office complex and clean room, we now have both the physical and human resource capacity for further expansion in the future.”

Duncan worked with Garry Horne, Relationship Manager at RBS’ Cupar, Ladybank & St Andrews office together with Suzanne Smith from Lombard, to secure funding for the new equipment.

Duncan says: “As a small, family business we are in the unique position to adapt and be as flexible as necessary to accommodate our customers’ needs.  We have some great contracts coming in now.  We all know where we want to go as a business and are prepared to work hard to get there. Having the backing from RBS has ensured we can make this happen.”

Horne says: “Supporting businesses like Contract Solutions is what RBS is all about – we’ve seen them grow from a start-up in a farm-shed to turning over £1m in just over three years. Rab constantly shows vision and innovation in his approach and we’re excited to have been part of the business’ journey so far.”

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