Tratos UK secures £6.9 million funding to support growth

Merseyside-based cable manufacturer Tratos UK has secured a £6.9 million finance package to support the expansion of the business.

The Knowsley-based company will use the finance from HSBC to help develop its production facilities, and support its drive to start manufacturing high voltage cable in the UK.

The company currently manufactures low voltage cable in the UK and has a won a number of contracts for high voltage cable, which it currently sources from its Italian parent company. The new contracts will help double turnover from £20 million currently to £40 million over the next year.

Tratos UK secured the funding from HSBC’s Liverpool Commercial team, in a deal led by Senior International Commercial Manager Dan Peacock.

The company has also moved its full day-to-day banking requirements to HSBC. The funding has come from a £100 million SME Fund recently launched by HSBC specifically for Merseyside companies.

The HSBC finance package will provide the company with comprehensive working capital facilities to enable it to drive sales growth and support its capital investment programme.

Tratos UK employs 40 people at its Liverpool plant, which plans to grow that to 60, where it manufactures cable for a range of industries, including oil and gas, railways and renewable energy. The company is part of the wider Tratos Group, an Italian headquartered company with a €150 million turnover.

Tratos UK finance director Kevin Martin said: “We have some very exciting plans for the UK business, which will see us broaden our manufacturing capabilities and widen the range of products we can offer to our customers in the UK and overseas.

“We believe now is great time to invest in our business and HSBC is the best strategic banking partner for us due to its commitment to UK business, but also its international footprint.”

HSBC senior international commercial manager Dan Peacock added: “Tratos UK is helping to regenerate and invest in an area where economic activity has been muted, creating jobs and benefiting the wider community.

“The company has clear plans for growth, and we are pleased to welcome them as a customer and to support their expansion.”

The finance was welcomed by Knowsley MP George Howarth, who said: “This is very good news for Knowsley and Tratos. The confidence HSBC has shown in Tratos is very welcome and the fact that it will enable them to double turnover serves to underline that ‘Knowsley means business’ is more than just a slogan.”