A specialist lighting manufacturer in West Yorkshire has purchased new premises in Bradford, with the support of a six-figure loan from Lloyds Bank Commercial Banking.
Applelec Sign Components has operations in Bradford and Leeds but has recently purchased new premises in Wharfedale Business Park, totalling 63,000 square feet.
It is situated near the company’s current base on Walker Terrace, enabling Applelec to realise its in-house production needs.
The firm was established in 1998 and is one of the largest manufacturers and wholesale distributors of LED lighting sheets for architectural and sign lighting in England.
It currently employs 58 members of staff with plans to increase this number over the coming year to support its growth plans.
Ian Drinkwater, managing director of Applelec Sign Components, said: “Bringing all of our work under one roof will help to improve our efficiency and lay the foundations for continued growth in the year ahead.
“Our products are increasingly being used in the fitting out of high-end premises across the world, where British products are in high demand. This is enabling us to expand our product range and diversity, fuelling our growth.”
The purchase of the new premises was supported by the Government-backed Funding for Lending Scheme (FLS), through a loan from Lloyds Bank Commercial Banking, in addition to a grant from the Regional Growth Fund.
Ian added: “Having received similar support for previous expansions from Lloyds Bank, we knew that we could count on our relationship manager to help us with our new growth plans.”
Ben Kimball, relationship manager for Lloyds Bank Commercial Banking, said: “Like many manufacturers across Yorkshire, Applelec is both helping to drive economic growth and is flying the flag for the UK overseas, continuing to produce the highest quality products available on the international market.
“We have a range of support specifically tailored to the needs of manufacturers and firms looking to export their products, and through the FLS, we offer a discount of one per cent on all loans.”