Preformed Windings Ltd, a specialist manufacturer of high-voltage bars and diamond coils, has secured a £1.5 million trade loan facility from
HSBC UK, supported by a guarantee from
UK Export Finance (UKEF), the Government’s export credit agency. The funding will strengthen the company’s position in international markets and support its continued expansion.
With over five decades of experience, Preformed Windings produces critical components that enhance the performance and reliability of heavy machinery operating under extreme electrical stress. These high-voltage bars and coils are used across sectors including hydropower, nuclear, and power generation, helping to extend asset life, improve efficiency, and reduce maintenance requirements.
Exporting accounts for more than 90% of the company’s business, with customers spanning multiple continents. The trade loan facility, backed by UKEF’s General Export Facility, provides the financial flexibility needed to manage working capital while investing in growth and technical innovation. This enables Preformed Windings to confidently fulfil large international orders and support its expanding global customer base.
Recent growth has had a notable impact on the local economy in Rotherham and Sheffield. Over the last year, the company opened a new facility to increase production capacity and improve service to international customers. It now employs more than 120 people, with 10% of staff recruited in the last six months, and the company expects to create further roles in production, technical, and sales teams as expansion continues.
Preformed Windings also plays an active role in developing future engineering talent through partnerships with
Advanced Manufacturing (Sheffield) Ltd and the
University of Sheffield’s Advanced Manufacturing Research Centre (AMRC). The company offers post-graduate and degree apprenticeship schemes to support skills development in the region.
Strengthening the UK’s competitive edgeTim Reid, UK Export Finance’s CEO, said: “Preformed Windings’ success shows exactly why we created the General Export Facility – to give UK businesses the flexibility to invest in export growth. Their commitment to technical innovation and training showcases why the UK remains at the forefront of advanced manufacturing. By backing companies like Preformed Windings, we are strengthening the UK’s competitive edge, supporting skilled jobs, and nurturing the engineering talent that underpins our economy.”
Looking ahead, the company is targeting further expansion into North America, the Middle East, Japan, and Europe — regions that offer strong demand for its advanced bar and coil technologies and expertise in high-efficiency power generation.
James Stevens, Preformed Windings Ltd’s CEO, said: “With over 90% of our business driven by exports, the support by UKEF and HSBC UK has been critical in strengthening our position as a global leader in high-voltage bars and diamond coils. The General Export Facility has given us the confidence to manage working capital to meet overseas demand efficiently and competitively. As we expand into new markets, we see UKEF as a key partner in our international growth.”
Kayley Towle, HSBC UK’s international manager, added: “At HSBC UK, we are delighted to support innovative businesses like Preformed Windings to achieve their export growth ambitions. Working alongside UKEF, this is a great example of how partnership between banking and government can provide the flexible financing that businesses need to capitalise on international opportunities."
This announcement follows the publication of UKEF’s annual report and accounts for 2024/25, which revealed a record £14.5 billion in new financing over the last financial year. The support helped more than 667 UK companies export and grow, backing up to 70,000 jobs around the country.