£1m helps MTL Group invest in cutting edge machinery
- £1m helps MTL Group increase its capacity at new site
- MTL Group increases working efficiency and turnover with two state-of-the-art cutters
- New machine helps MTL Group win major contract
MTL Group Ltd is one of Europe’s fastest growing project manufacturing specialists in the metal sector. Founded in 1995, MTL Group processes around 30,000 tonnes of material annually and serves several sectors including construction, defence and off-shore wind energy. It provides a range of services from laser cutting and machining to press braking and surface treatment.
As a capital intensive business, MTL Group has an ongoing demand for new equipment and innovation, and investment is a key part of its work. MTL Group looks at the funding of each new machine requirement on a case by case basis, ensuring it finds the most suitable solution. The company was looking to finance new high definition plasma and robotic plasma tube cutting machines and approached Lombard for a £1m hire purchase solution.
Raj Dehel, Lombard Origination Manager, explains, “We created a four year facility with a straightforward HP funding solution. The company was consolidating its three sites to one location and the equipment we financed went straight into the new site.”
The new machines are more efficient than those the company had previously used; the high definition plasma cutting machine is one of the largest of its type in the UK and the robotic plasma tube cutter is state-of-the-art and less labour intensive than previous methods. David O’Hara, MTL Group Finance Director, explains, “As a rapidly expanding company, we are investing in more and more unique equipment. Not only was I impressed with the rates that Lombard offered, but I was also impressed with the effort it made to build a relationship with MTL Group and to understand our business. Since acquiring the machines, turnover has increased and we’ve won a big export contract, which is underpinned by the new equipment.”
For more information about how Lombard could help your business grow, please call 0800 028 7164. Type Talk 18001 0800 028 7164.
Security may be required and product fees may apply.
Download the MTL Group Ltd Case Study (PDF, opens in new window)
Get Adobe Reader
(from www.adobe.com)
