Coventry firm secures £13.5mln NatWest funding for manufacturing growth
An engineering specialist in Coventry, UK has secured £13.5mln to support growth in UK manufacturing.
The business made a banking agreement with NatWest, including an £8.3mln revolving credit facility and a £4mln bond facility, plus foreign exchange and operational support, taking total facilities to £13.5mln.
The package is to modernise the business, invest in innovation and support larger, more complex contracts in the UK and overseas.
NCMT supplier of machine tool and manufacturing technologies has already used part of the funding to complete a management buyout from its previous shareholders.
