Parry Group (www.parry.co.uk) is to expand its product offering and export into new markets. The Derby-based manufacturer and supplier of commercial catering equipment, stainless steel furniture and commercial lighting has a turnover of around £7 million and employs 65 people. I

t currently exports to Europe and Africa from its 45,000ft2 premises, and it recently identified a demand for its products in the Middle East.

The company decided to switch its banking facilities to Lloyds Bank Commercial Banking and was given a £450,000 loan to allow it to invest in product development and set up new export operations in the UAE and Dubai. The bank’s commercial finance team also provided an additional £1.2 million of working capital to support its growth plans.

Managing director Gary Rose said: “There is a growing health-care sector in the Middle East that wants British-made products. As a result, we felt it was the right time for us to grow our export operations and extend our product line.

"The team at Lloyds Bank has been extremely supportive of our plans to expand, giving us invaluable guidance and support. We now look forward to pursuing an aggressive growth strategy, and we aim to double our turnover in the next five years.”