Member Article

Tratos UK secure £3.5 million loan for expansion

Knowsley-based cable manufacturers Tratos UK have secured a £3.5 million loan expansion plans that will create over 100 jobs.

The loan from The Chrysalis Fund will be used to acquire a site next to the Italian manufacturer’s factory and will also be used to redevelop the existing production facilities.

The project is subject to a Regional Growth Fund application and is regarded as a priority project by the Liverpool City Region Local Enterprise Partnership (LEP).

Robert Hough, chairman of the Liverpool City Region LEP said: “Advanced Manufacturing is one of Liverpool City Region’s success stories. It represents an important opportunity for expansion and new growth that can be supported by the Chrysalis Fund. The Tratos UK development is a strong endorsement of our growth plans based on high value manufacturing in the Knowledge Economy.”

Jim Gill, chair of the Chrysalis Fund, added: “This investment in the expansion of Tratos’ production facilities in Knowsley represents an important boost to the manufacturing sector in the City Region, creating jobs and building the supply chain for key sector development in the region. It is great to see a Knowsley firm with such ambitious expansion plans and we’re delighted to facilitate this next step in the company’s growth.

“At Chrysalis we want to support industrial and commercial growth across all parts of the City Region. The Tratos investment comes hot on the heels of our recent £4.8 million deal to enable the redevelopment of Watson House in Liverpool city centre. We have a number of additional deals in the pipeline which we hope to be in a position to announce before the end of the year.”

Kevin Martin, finance director at Tratos said: “Tratos is delighted to have arranged this loan with the Chrysalis Fund, which shows the commitment of Tratos to Knowsley and Merseyside. The redevelopment and expansion of our existing facility not only protects existing jobs, but will assist in regenerating the area and creating more job opportunities.”

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