Hessle-based Bridgewood UK, which supplies engineered plastic components, is to significantly increase its workforce to cope with growing demand for its services, following £1 million in funding from Santander Corporate & Commercial.
As well as recruiting 20 new staff, the East Yorkshire firm will use the funding to fuel international sales and improve processes at its 100,000 square foot factory.
Situated close to the Humber Bridge near Hull, Bridgewood is one of the UK’s leading producers of thermoformed plastic components.
The 100-strong company has operated from its current site for over 25 years and has grown its turnover by 70 per cent over the past four years.
Its primary industry sectors in the UK and overseas include construction equipment, agricultural machinery, touring caravans and holiday homes.
Key customers include Caterpillar, Wrightbus and the Case New Holland Group.
Overseas markets are constantly expanding, with significant demand from Europe, Asia Pacific and the Americas.
Santander Corporate & Commercial provided a tailored finance package to support Bridgewood’s growth, as well as access to Santander’s global network with proven expertise in international trade.
Nabiel Khan, director, Bridgewood UK Ltd, said:
“We are building on our reputation for technical excellence with a new strategic drive to become best in class in customer service and delivery.
With Santander’s help, we are able to ramp up our export business and increase our workforce, as well as bring improvements to our manufacturing processes and facility.”
Andy Bowden, relationship director, Santander Corporate & Commercial, said:
“Exporting is a key part of the success of the UK economy and it’s fantastic to see ambition on this scale from this dynamic company.
“Santander is committed to helping UK manufacturers grow both at home and overseas, and with our considerable global strength and expertise, we are well placed to help Yorkshire businesses with their international growth plans.”