South Wales pressings firm secures finance package
Posted on 26 Mar 2019 and read 1669 times
South Wales-based CSM Pressings, which designs and manufactures pressed-metal products in Aberdare, has secured a £1,155,000 finance package from HSBC UK to purchase a new 400-tonne press; this will enable it to make larger components — and win larger contracts.
The company’s customers include a number of well-known automotive companies, plus a manufacturer of supermarket shelving fixtures.
Commercial director Gareth Morris said (www.csmpressings.co.uk
): “Having this new piece of machinery is crucial to the company’s growth strategy; it has already enabled us to win a new contract from a large car manufacturer, and it will be invaluable to the future of the business — not only in the development of new customers but also helping to serve our existing customers.”
Phil Sargeant, HSBC UK’s area director for South Wales, said: “We are proud to support CSM Pressings in their ambitious growth strategy, and it is great to know that the company has secured further business off the back of
the recent funding. We look forward to supporting the company in the months and years to come.”
CSM Pressings, which was founded in 2006 and employs 32 people — plus temporary workers during busy periods — is hoping that the new machine will help to boost its turnover to £2.5 million in 2019.