Engineering firm prepares for growth with site expansion
A Wolverhampton-based engineering firm has plans to boost its infrastructure and create more jobs with a £1.5 million site expansion, supported by a £350,000 funding package from Lloyds Bank Commercial Banking.
Established in 2003, Varlowe Industrial Services provides specialist coded welding, steel fabrication, CNC machining and specialist pipework services to a diverse range of customers including Jaguar Land Rover, BMW and West Midlands Safari Park.
To facilitate its growth ambitions, the business purchased a derelict property next door to its existing premises in Patrick Gregory Road Wednesfield, to develop a new state-of-the-art manufacturing facility. The build, which has been delayed slightly by the coronavirus pandemic, is now scheduled to complete next month.
The new building is four times larger than Varlowe Industrial’s original site and provides the firm with sufficient capacity to accommodate larger and more sophisticated CNC machinery. The additional space will also help the firm to diversify its offering to new and existing customers, which includes plans for a reactive breakdown service.
The business, which currently employs 37 staff, expects to create at least 10 new roles within the next year as part of its expansion.
Steve Varden, director at Varlowe Industrial, said: “We have strong ambitions to grow our workforce and invest in more cutting-edge machinery in the near future, so increasing the size of our site will give us the infrastructure we need to do this. It will also help us to grow our service offering, which we hope will boost our output levels and bring about an uplift in turnover.”
“The Lloyds Bank team has been so proactive in supporting us with this expansion project, regularly going out of their way to visit us and make sure that everything is running smoothly. Their backing has been pivotal to our growth and we’re looking forward to continuing to work alongside them as we transition to our new site.”
Rob Taylor, relationship manager at Lloyds Bank Commercial Banking, said: “Varlowe Industrial Services is a high-quality business with exciting growth plans. The new site development represents the latest chapter in the firm’s continuing expansion and will have a great impact on helping the firm to realise its ambitions.
“We’re proud to support businesses like Varlowe Industrial Services as they invest in their continued growth strategy and will be by the side of businesses in the Midlands as part of our commitment to help Britain prosper.”
