Funding boost for Power Panels Electrical Systems

The result could see employment at Power Panels Electrical Systems, based at Cheslyn Hay, surge by 20 per cent, with plans to add another 40 to its 200-strong workforce before the end of the year.

The company makes electrical control systems for clients in a variety of industries across the UK, USA and Germany, including the medical, automotive, energy, food processing and security sectors.

The funding injection will support its continuing growth and help it meet increasing customer demand for its electrical control systems, cable harnesses and sub-contract manufacturing.

Power Panels secured a working capital injection from the Birmingham office of Lloyds Bank Commercial Banking to help generate cashflow to meet growing demand following an ongoing increase in customer orders.

Funding was granted using the Funding for Lending Scheme (FLS), the scheme launched by the Treasury and the Bank of England to increase lending to businesses. As part of this scheme, Lloyds Bank is offering discounts of one per cent to all SMEs in all sectors for the life of their loan.

Established in 1967, Power Panels Electrical Systems has an annual turnover of around £20million and employs 200 people, with plans to take on 40 additional staff before the end of this year to facilitate its ongoing growth strategy.

David Fox, chairman of Power Panels Electrical Systems, said: "At Power Panels Electrical Systems we pride ourselves on delivering technically advanced electrical control systems and sub contract manufacturing solutions for our extensive customer base both in the UK and overseas.

"We have seen a growing demand across many market sectors for high quality control systems, and it is crucial that we are able to continue providing new manufacturing concepts that truly deliver.

"The team at Lloyds Bank has been really supportive, and the funding provided has been vital in enabling us to meet increasing customer demand as we work towards our future growth ambitions."

Grant Warren, relationship director at Lloyds Bank Commercial Banking in Birmingham, said: "Power Panels Electrical Systems is a successful business that has used its industry expertise to deliver complete manufacturing solutions tailored to each individual business's needs.

"The business' recent investment to further its production capabilities is a testament to its commitment to continually refining and perfecting its service, and the new employment opportunities that are going to be created are great news for the local economy.

"At Lloyds Bank we recognise the importance of manufacturing businesses to the UK economy. We have a dedicated team of relationship managers who understand the manufacturing sector, and can help businesses in achieving their growth ambitions."

Meanwhile, Power Panels Electrical Systems has signed a national agreement with one of the world's leading pneumatics, fluid power and automation specialists.

It The world leader in control and automation solutions will become a national integration partner for SMC Pneumatics (UK), providing its global customer base with added-value solutions in electrical, electronic and electro-pneumatic control systems and assemblies.

It will look to combine respective engineering and manufacturing technologies in a bid to introduce new components and processes to the build of specialist machines used in food processing, machine tool, medical, packaging and semi-conductor industries.

Tony Hague, managing director of PP Electrical Systems, said: "We are continually looking for ways to improve the quality and diversity of the solution we offer our customers. Therefore, it is vital that we forge closer links with other leading technology providers.

"We have been working closely with SMC for a number of years and the signing of this agreement further strengthens this relationship and signals our intent to jointly use the best components and the best processes in the build of our systems and machines."

PP Electrical is currently investing more than £1 million a year in

More than £1 million is invested each year in the latest automation, including cable cutting, stripping, marking, termination and automatic crimp force monitoring as well as funding development opportunities for its workforce.

The company is often the first critical link in a supply chain that will ultimately lead to it influencing the performance of a F1 car, how a potentially life saving medical examination is conducted and how energy from renewable sources is captured.

Steve Bangs, manufacturing director at SMC Pneumatics (UK), officially signed the agreement with PP Electrical Systems:

He commented: "There are a lot of synergies between our two organisations and this new partnership will strengthen an existing relationship that is already delivering advancements in control and automation technology."

SMC Pneumatics (UK) Ltd has over 50 years' experience in the pneumatics, fluid power and automation markets and is renowned for its commitment to innovation.

Its UK manufacturing operation is based in Milton Keynes alongside its European Technical Centre, where it offers the most diverse product range and solutions within its market sector and supports this with a nationwide team of more than 80 technically trained sales engineers.

In 2013, SMC was recognised by Forbes Magazine as one of the top 100 most innovative companies in the world for the third consecutive year.