Chesterfield manufacturer secures £1.6m investment
TMAT Ltd, the specialist manufacturer of acoustic and thermal insulation for vehicles, has secured £1.6m of investment.
The Chesterfield based business has secured the funding package from HSBC, which will be used to branch into global markets.
Working with some of the world’s biggest heavy plant manufacturers including JCB, Komatsu and Volvo Construction, the company has grown significantly over the last three years.
TMAT specialise in noise reduction components, which provide a more comfortable ride for operators of plant equipment.
Their products have been exported throughout Europe, Asia and the Americas.
Jason Lippitt, managing director at TMAT, said: “Having grown by more than 24% in 2010 and recording record sales each quarter, it’s been quite a year for the company.
“We have secured new contracts that will ensure on-going growth over the forthcoming years.
“The partnership with HSBC underscores the bright future for us as a business and the manufacturing industry as a whole.”
The company plan to use the investment to continue product development and innovation of new technologies such as Polyurethane Elastomer, used in the manufacture of high-resilience insulation.