Barnsley laser firm Cutting Technologies hits £1.25 million milestone investment
Barnsley laser cutting and engraving company Cutting Technologies is hitting a £1.25 million investment milestone with a further £450k being invested in new machinery.
This latest investment has been made possible thanks to a Regional Growth Fund (RGF) grant bid of £135,000 and will allow the Barnsley-based company to create 10 jobs and increase production.
The remainder of the funding package has been financed by Cutting Technologies.
In 2012 Cutting Technologies increased capacity by purchasing a 3mtr x 2mtr 200w watt Eurolaser but demand has been so great, the company now plans to buy the latest technology 400w machine.
A new greener and more efficient nitrogen generator is also on order which generates twice the amount of nitrogen using the same amount of electricity.
The capital investments will create 10 jobs by next spring and will open up new opportunities in the re-emerging construction sectors. Cutting Technologies now employs 30 people and operates 6 lasers across its 18,000 sq ft premises.
Jane Robinson, director at Cutting Technologies, said: “We are attracting some extremely high profile work across a range of sectors and simply have more work than we have capacity to do at the moment.
“We are keen to continue growing and this funding will allow us to purchase an extra laser and nitrogen generator which will have an enormous impact on productivity.”
Cutting Technologies had to undergo due diligence from an external accounting firm because of the size of the bid.
Tom Preece from national, leading accountancy and business advisory firm BDO in Sheffield assisted. Tom added: “The RGF grant will assist the company to progress its ambitious capital investment plan providing additional capacity in both the metals and non metals sides of the business. This will enable Cutting Technologies to exploit new opportunities across all sectors.”
The project has been supported with grant funding from the LEP’s “Unlocking Business Investment” Regional Growth Fund programme, which has seen £32 million in central Government funding allocated to the Sheffield City Region to create sustainable private sector employment.
This was posted in Bdaily's Members' News section by Clare Burnett .
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