Thermotec's Managing Director David Rose with Councillor Tahir Ali
A Birmingham-based plastic and composites manufacturer has received major funding to help support its expansion and improvement plans.
Thermotec Plastics has successfully received funding approval from Birmingham City Council from the Greenbridge Supply Chain Programme for SMEs, to allow it to invest in the Capital Expenditure it needed to expand its manufacturing capacity and improve the infrastructure and aesthetics of its manufacturing space.
The company, which supplies engineered solutions in vacuum forming and polyurethane mouldings across a variety of sectors, has estimated that with its expansion plans, the funding will allow it to target more business from major OEMs and recruit extra personnel in a bid to achieve its annual turnover growth plans of circa £1.5M.
“With increased business and enquiries for our lightweight products, we needed to demonstrate to our customers that we can confidently manage low to mid volume projects,” explained David Rose, Managing Director of Thermotec Plastics. “Receiving this funding from The Greenbridge Programme, combined with our own investment, will allow us to put automated processes in place that not only increase the productivity, but allow us to improve the environmental impact of our activities.”
The project is on track to be completed in the second quarter of 2015 and as well as recruiting an additional 11 staff, Thermotec has taken steps to upskill its existing workforce.