A foundry which produces precision castings has secured a £75,000 investment to cope with growing demand.
B&C Foundry, based at the Bedwas House Industrial Estate, supplies precision castings to the aviation, automotive, defence, electronics and rail industries. It is also a preferred supplier to a number of global blue-chip companies.
It will use the £75,000 debt investment from Finance Wales to install a new furnace to gear up for growing customer demand for ferrous castings.
Managing director Sue Rawlinson said: “We manufacture anything from single castings to batches of thousands and we’re also able to manufacture intricate designs and surface finishes.
“Our customers really value our flexible approach and specialist knowledge and this has helped us to secure new contracts. Added to this, more and more of our orders are from customers who have decided to opt for a UK-based supplier rather than to look overseas.
“We’re successfully winning more orders for ferrous castings and until now we’ve had to outsource this work to a sub-contractor. Using Finance Wales’ investment we’ll be able to equip our purpose-built foundry with a new furnace to satisfy these orders in-house. This will reduce our costs, improve product quality and increase our capacity.”
A previous Finance Wales investment in 2009 enabled B&C to purchase new equipment and Rawlinson is keen to highlight the benefits of Finance Wales’ backing.
She added: “This is the second time Finance Wales has invested in B&C to help us purchase new equipment. Finance Wales has always taken time to understand our business and has been keen to make sure we have the capital we need to drive it forward. We’ve found their expertise invaluable.”
Finance Wales’ investment in B&C came from the £150 million Wales JEREMIE Fund.
Richard Rees, of XBA Finance who advised the company on this latest funding round, said: “Our multi-disciplined approach to our relationship with clients, drawing on accountancy, business and commercial banking experience was fundamental to B&C in helping to prepare and present the investment proposal to Finance Wales.
“We are delighted to have played such a pivotal role in securing the investment and we are looking forward to continuing to work with B&C in future.”