£200,000 loan helps Rolla V invest

Rolla V has bought the new equipment, to help improve its production capabilities, with the support of a £200,000 loan from Lloyds Bank.

The company, established more than 15 years ago, specialises in the production of tooling for press brake machines, which are used to bend sheet and plate metal. It supplies tools for a range of high profile manufacturers in the sheet metal industry, including Amada, Trumpf and Bystronic.

Rolla V, based on Park Lane Industrial Estate, exports 80 per cent of its products to clients in North America, Europe and Asia. It recognised a need to invest in a new grinding machine, in order to enhance the speed and efficiency of its manufacturing process.

It approached long term banking provider, Lloyds Bank Commercial Banking, and the bank referred the business to its commercial finance team, which provided a £200,000 asset finance facility to support the purchase of the machinery.

Following the recent investment, Rolla V's production levels have already increased by over 20 per cent, allowing it to operate more quickly and efficiently. The business now has the capabilities to design and produce new components, expanding its product line to fulfil customer demand.

The business has an annual turnover of around £1million and currently employs 12 members of staff, with plans to create four new job opportunities in the next six months.

Owner Kevin Marklew said: "At Rolla V we have built up extensive experience in the manufacture of press brake tooling and we take great pride in the high quality components and projects we deliver for our global customer base.

"In line with our plans for business growth in the next three years, it was vital for us to invest in this new equipment, which has allowed us to increase our production capabilities considerably in what is a competitive industry.

"The Lloyds Bank team has a sound understanding of our business strategy and plans for expansion, helping the business to thrive, and we are really grateful for the bank's support."

Keith Moore, regional manager at Lloyds Bank Commercial Finance, said: "Rolla V is a forward thinking business experiencing buoyant demand for its highly technical press brake tooling.

"The asset finance facility was suited to the business as it meant that it could purchase the grinding machine without putting pressure on its working capital, and the investment will enable the company to secure new contracts both in the UK and overseas."

Mark Meakin, relationship manager at Lloyds Bank Commercial Banking, said: "Rolla V is a well-respected business and has built up a fantastic reputation for its high quality press brake tooling since it began trading over 15 years ago.

"The investment in new machinery marks an important moment for the business as it works further towards achieving its ambitious growth strategy. and the new jobs that are going to be created as a result are positive news for the local economy.

"We are committed to providing support and guidance to manufacturing businesses, and as part of that commitment, we have set a target to lend £1billion nationally to manufacturing businesses every year until 2017."