Bdaily Business News

£60,000 loan for Barnsley printing machinery specialists

Barnsley-based printing machinery suppliers, Pinheiros, has secured £60,000 funding for expansion into new offices.

A business loan from Finance Yorkshire will help the European sellers to move into a 25,000 sq ft space in Wakefield.

David Brown, Pinheiros Director, said: “The loan has enabled us to make a strategic move to a site which will add value to our current operations.

“Historically, Wakefield has been a hot-spot for operators in our industry and so this move will make it easier for our many international customers to visit us.

“It will provide a professional and comfortable environment for our expanding team and enable us to securely store equipment on site for ourselves and for third parties.”

He added: “The new premises have been designed to reflect the aspirations of Pinheiros and its team to remain a world leading brand in the supply of printing and post press machinery and to match the expectations of our worldwide client base.”

Ian Howson, Finance Yorkshire investment manager, said: “Pinheiros is an established company with a mature client based and consistent profit record.

“The office move had already received financial backing from company directors and the bank, but there was still a funding gap.

“We were happy to come together with the other lenders to help fill the void as we see a great future for the company.”

Pinheiros is 15 years old and exports more than 200 machines each year to its client base, with turnover in excess of £13m.

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