Cable manufacturer sparks growth with £6.5m funding
Electrical cable manufacturer Doncaster Cables has extended its product lines and plans to target emerging Asian markets after securing a £6.5m asset based funding package from Lloyds TSB Commercial Finance.
The business manufactures electric cables at its 320,000 sq ft state-of-the-art Doncaster development facility in Bentley.
As part of its growth strategy, the business has used the funding to enhance its product range by purchasing new machinery that will enable it to supply products to new overseas markets.
With its enriched product lines the business is now focusing on exporting to new global markets including mainland Europe, the Far East and Libya, where there is growing demand for high quality cabling.
Chris Mallinson, director at Doncaster Cables, said: “Doncaster Cables is committed to delivering high quality, reliable cabling to customers, and with the funding support of Lloyds TSB Commercial Finance we are able to capitalise on increased client demand whilst also enhancing the products we can offer to them.
“We have generated significant sales growth and we are now approaching new markets over the next few months, particularly in the Far East where development work is increasing and businesses require cabling that they can trust. The level of cheaper imported cables which have been found to not meet the required British or European Standards is concerning to both the industry and the public.”
Established in 1984, Doncaster Cables has an annual turnover of £40m and 124 employees. The business is one of the few remaining electric cable manufacturers in the UK.
This was posted in Bdaily's Members' News section by Mark Lane .
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