The Team at RautomeadRautomead, a Dundee-based manufacturer of specialist casting equipment, has secured a £3.5 million funding package from
HSBC UK to support growing global demand and strengthen its supply chain.
The funds will support the delivery of new international contracts and help manage the business’s supply chain requirements through a strategic global growth plan set to expand reach in India, South America and Turkey.
Established in 1978, Rautomead designs and builds continuous casting equipment for the production of non-ferrous metals and alloys. Its machinery is used in a range of applications, from the production of high-specification wire for high-speed rail networks and automotive signal wire, to specialist uses such as coin and bullion manufacturing.
The family-owned business primarily exports its products worldwide, with key markets including Europe, USA, Vietnam, Australia, Canada and China.
The business has seen renewed demand following a period of post-pandemic uncertainty, and with orders now increasing, the HSBC UK facilities will help Rautomead ensure continuity across its supply chain.
Stephen Hall, director at Rautomead, said: “Following a challenging period for the market, we are now seeing strong demand return across our international customer base. This funding gives us the flexibility to manage our cashflow effectively and fulfil new orders, including opportunities in new markets.
“HSBC UK really took the time to understand our business and the challenges we were facing. Their support has been instrumental in helping us move forward with confidence as we continue to grow our global presence.”
Tim Laundon, relationship manager at HSBC UK, added: “Rautomead is a long-established manufacturer with a strong international reputation in a highly specialised sector. It is fantastic that HSBC can support a business that has demonstrated such resilience and innovation, adapting to changing market conditions while maintaining its global export strength.”