Aerospace firm’s £3m investment follows contracts and sales growth

A Wrexham-headquartered manufacturer has invested £3m in new machinery, after securing new contracts and boosting sales nearly 50% since 2013.

Tritech Group specialises in the manufacture of parts and components, which are used in the aerospace and defence sector across the globe.

As part of the expansion of its Wrexham site, the company has bought a new vacuum melting furnace, with support of an asset finance facility from Lloyds Bank Commercial Banking.

The new equipment is set to boost production by 21% over the next two years. The investment follows a significant period of expansion for the company, which has grown organically and secured a number of contracts, working on new opportunities with companies such as Boeing.

Founded in 1982, Tritech Group now employs 430 people at its seven sites across the UK.

Andy Cheers, business development manager at Tritech Group, said: “We work closely with companies that are constantly innovating and requiring more advanced products to suit their needs.

“We recognised that to continue to offer the best possible service to our clients, and to stay ahead of our competitors, we needed to invest in new machinery, which will provide us with the capabilities to create new products and speed up our manufacturing process.

“The asset finance facility from Lloyds Bank Commercial Banking has been a huge benefit to the firm, as it has allowed us to make a substantial investment in the new machinery without impacting our day-to-day cash flow.”

Darren Winterbottom, relationship manager at Lloyds Bank Commercial Banking, said: “Tritech Group is a highly innovative firm, and its commitment to providing the best possible service is what makes it a leader in its field.

“Manufacturers are the backbone of the British economy, and to ensure that companies across the country continue to prosper we have pledged to provide £1bn of new funding to manufacturing firms by then end of 2017.”