Aston-based Radshape Sheet Metal has invested in a new Amada laser cutting machine after securing a £500,000 funding package from Lloyds Bank.

The company, which currently employs 70 people, is also planning to take on additional staff. It makes items such as petrol tanks, radiators and speaker grills, and it has supplied Rolls-Royce and Bentley since it was founded in 1967.

The investment has allowed it to extend its product range and expand into different sectors, including aerospace and rail.

Managing director Keith Chadwick (pictured left) said: “With over 40 years of experience in the manufacture of precision sheet-metal parts, we take great pride in the high-quality components and projects that we deliver for our national 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 growth, helping to encourage the business to thrive, and we are really grateful for their support.”

Claire Carr (pictured second from left), client manager at Lloyds Bank Commercial Finance, said: “Radshape’s industry credibility in this highly skilled area of manufacturing is a real catalyst in fuelling its ambitious plans for growth, and this latest acquisition of new machinery is a really important step, allowing it to further enhance its production capabilities.

"The manufacturing sector is crucial to the on-going resurgence of the region’s economy, and the new jobs that the business plans to create in the next few months are positive news for the local area.”