Sheffield-based engineering company, CTL Seal Ltd have purchased new kit to reduce production times, increase productivity and save on cost with £500,000 finance support from Lombard, the asset finance arm of NatWest and a bridging loan from the bank.
With over two decades operating in the field of engineering, the company offers project management and expert advice to help companies meet their manufacturing requirements.
Providing infrastructure from design to delivery, CTL Seal Ltd serves a diverse range of markets including power generation, oil and gas exploration, offshore and mining industries, steel and construction.
Due to growing customer demand, managing director Andy England wanted to improve the company’s facilities with the instalment of a Juaristi TX1S-MGX8 CNC Machine.
Having used Lombard in the past, Andy approached Senior Relationship Manager, Veronica Wales who was able to offer funding on a hire purchase agreement to provide flexibility and allow CTL Seal to choose an achievable repayment programme that ensured their cash flow wasn’t effected.
Andy said: “Veronica made the process incredibly smooth and simple. Lombard offered us a competitive rate, and have been reliable in providing what they outlined.”
Veronica said: “The CNC machine will benefit CTL Seal Ltd by providing their customers with greater manufacturing capability. We look forward to working with the team again as they continue to invest in assets in order to grow their customer base further.”