Member Article

Washington machinist business secure £250,000 funding

Washington-based Calberto Ltd, has received over £250,000 funding from HSBC’s Commercial Banking team in the North East.

In a deal led by commercial manager Lucy Wilding, the high precision machinist business, secured the funding which will allow them to purchase new machinery and expand production capabilities.

The funding included £32,000 of Regional Growth Fund grant, making Calberto Ltd the first business in the North to have received such a grant from HSBC.

Pat Dellow, Area Commercial Director at HSBC Commercial Banking Tyne and Wear said: “While the manufacturing sector has experienced challenges over the past few years, there are clear indications that the tide is starting to turn with the latest CBI industrial trends survey revealing a rise in orders and an increase in output of five per cent compared to the last quarter.

“Calberto Ltd is a brilliant example of a manufacturing business that has taken a forward looking approach, thinking about what opportunities there are for growth and ensuring it prepared to take advantage of them.”

Calberto will now purchase new machinery, allowing it to build on the high quality computer numerically controlled machines it already owns.

The firm will also grow its workforce this year, adding to its 50-strong team with the appointment of three new apprentices.

Norman Grievson, Managing Director at Calberto Ltd, said: “Moving our banking to HSBC represents an exciting development for the business. We will achieve so much through the funding, from purchasing additional machinery to safeguarding and increasing local jobs.

“We see this as a first step and hope to continue to invest over the coming years, enabling us to look forward to a prosperous future.

“As a business, we pride ourselves in high quality production and this funding will really help to drive new business and serve our existing customers even more effectively.”

This was posted in Bdaily's Members' News section by Tom Keighley .