Funding helps Mec Com turnover £12.5m

Funding helps Mec Com turnover £12.5m

Staffordshire-based manufacturer Mec Com has increased its workforce by 18% and seen turnover hit £12.5m after securing funding from HSBC.

The £500,000 funding package helped the firm land a major £3m contract with a well-known electronics firm for the assembly and testing of protection and control relays.

As a result of this Mec Com has created 25 jobs and invested in new machinery to support the delivery of the new five-year contract.

The firm, which offers fabrication, light assembly, coil winding and general machining, has grown quickly, increasing its turnover from £7m in early 2000, to a record £12.5m in 2015.

Nick Lathe, financial director at Mec Com, said: “With the support of HSBC and our adoption of lean manufacturing techniques, we have created a truly flexible and cost effective manufacturing environment, which puts us in a strong position for growth.

“We are currently quoting on further fabrication work for existing customers, which is valued at £1m and see plenty of further opportunities in the year ahead.”

Paul Turk, HSBC's area director of corporate banking in the Black Country, added: “We are committed to helping British businesses like Mec Com realise its growth ambitions.

“It is a company with a strong international footprint and plans to expand further both at home and abroad.

“Their current premises can support further sales and the 25 new staff will help support their continued growth strategy.”