Funding will double productivity at Nottingham glass company

A Nottingham glass company is set to double productivity after securing a £315,000 funding package from Lloyds Bank.

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Read time: 5 mins      Added: 18/01/2019

The funding will help The Smashing Glass Company, which manufactures glass units for windows and doors, keep pace with growing demand for its specialist products.

Its investment in new machinery is set to boost efficiency by 20 per cent and double the firm’s capacity.

Transformational investment

The Smashing Glass Company, which was founded in 2002, will use a £225,000 hire purchase facility to buy a new seaming machine and insulating glass unit assembly line without impacting day-to-day cash flow.

The firm also secured another £90,000 hire purchase facility to add an additional robotic sealer – a machine used to seal the edges of window units.

"We’ve experienced rapid growth over the last few years and the new machinery has the potential to double our productivity, meaning that we can complete more orders for more customers."

Simon Ratcliffe, general manager at The Smashing Glass Company

"The team at Lloyds Bank has been a great support and really taken the time to understand our future growth ambitions. We look forward to working with them again as we continue to expand."

Mel Howard, relationship manager at Lloyds Bank Commercial Banking, said: "We're committed to supporting ambitious local firms like The Smashing Glass Company, which is why we have increased our net lending to SMEs by 33% since 2011, at a time when the market as a whole has contracted by 12%."

"This is an exciting next step for The Smashing Glass Company as the firm continues to invest in its products and customer service."

Mel Howard, relationship manager at Lloyds Bank Commercial Banking

New employment opportunities

The Smashing Glass Company has also expanded its 30-strong team, hiring an additional five members of staff to meet growing demand.

Mel Howard added: "It's encouraging to see the business creating new employment opportunities for the East Midlands."

All lending is subject to status.

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