Multi-pallet-machine investment
Posted on 16 Mar 2011. Edited by: John Hunter. Read 710 times.
An East Midlands engineering firm has invested £410,000 in a Matsuura multi-pallet machine after a strong start to 2011. This follows a £3 million expansion project that saw Swiftool Precision Engineering move to a new 30,000ft2 facility in Huthwaite last summer after 14 years at Sutton-in-Ashfield.
Jointly owned by father and son Peter and Stuart Handley, the business was founded in 1977 and now has 55 full-time staff. It produces high-integrity parts for the aerospace, defence, nuclear and oil and gas industries, and it has grown by an average of 25% per year for the past 10 years.
Stuart Handley says: “Swiftool’s reputation has been built on quality and precision, and we are a supplier that customers want to grow with. The investment in a new modern facility and the very latest machining technology has allowed us to drive down costs and support the continued growth that we have come to enjoy — all of which would not have been possible without the help of Yorkshire Bank and EMDA, the regional development agency.”