Sheffield manufacturer bags £4.2m funding to fuel expansion plans

A Sheffield manufacturer is aiming to expand with £4.2m funding from HSBC UK.

Thos C Wild, established in 1929, produces rings from deep sea pipelines, jet engines and rockets at its factory in Sheffield.

Having received the HSBC UK funding, the company has upgraded its 50,000 sq ft operation through the purchase of a multi-million-pound German automated punch press. This is set to allow Thos C Wild to scale production by 70 per cent and reduce waste.

John Hancock, Thos C Wild’s managing director, said: “We operate on a global stage supplying some of the world’s largest engineering groups.

“It is critical that we keep striving to employ the best talent and invest in our production facilities to remain a leader in an intensely competitive marketplace.

“HSBC UK’s funding gave us the means and confidence to make this significant investment into the future of our business.”

In 2016, the business utilised funding from HSBC UK to purchase various specialist forge and furnace machinery, as well as three new buildings to house its production facilities.

Lee Manterfield, corporate director for South & East Yorkshire at HSBC UK, added: “Sheffield has a proud history of steel manufacturing so we’re immensely proud to support a market leading and long-established forge in the heart of the Steel City.

“John and his team have considerable experience and knowledge of their markets and are not afraid to make strategic investments to drive productivity and competitiveness. We look forward to seeing the business continue to flourish.”