A Birmingham sheet metal manufacturer has won a new client following a £400,000 investment in new press brakes that was supported by Lloyds Bank Commercial Banking. Radshape Sheet Metal (www.radshape.co.uk) already supplies the likes of Bentley and Aston Martin; the new machines have enabled the company to improve its lead times and attract new business. The number of employees will rise to 70 as a result, and turnover is expected to increase by 10% by 2018 — to £5.8 million.

Managing director Keith Chadwick said: “We are a well-established business, and we have grown our reputation among some big names in the automotive industry in the last 50 years.

“With more cars than ever on the roads, it’s important that we keep adapting to the increased demands of raw materials by ensuring that our technology is as modern and efficient as possible. Lloyds Bank’s support has helped us to take the steps needed to maintain sustainable growth.”

Mark Harnett, relationship manager for manufacturing at Lloyds in the Midlands, said: “Radshape Sheet Metal has banked with Lloyds since ‘day one’. Through a series of tailored funding packages, we’ve supported the company as it has won more and more business with renowned global customers.

“A recent Lloyds Bank’s report shows that automotive manufacturers in the Midlands are forecasting a 13% growth in turnover in the next two years. Radshape Sheet Metal is set to play a big part in that industry growth.”