Having won a new, high profile, contract to manufacture parts for BMW, Cube Precision Engineering successfully secured £200,000 of funding from Lloyds TSB Commercial Banking to assist with the work for German company Westfalia.
Commenting on the project, Neil Clifton, Managing Director of Cube Precision, said: ÂWe have a history of delivering projects successfully across Europe. We have proven our ability to handle these size of projects. This was very important to Westfalia.Â
Securing the funding has enabled the Rowley Regis based firm to benefit from the additional cash flow support whilst completing the work for Westfalia. Neil Clifton said: ÂLloyds did a really good job of helping us secure the funding. They did the majority of the leg work and worked well with our Finance Director.Â
Part of the funding was obtained from the Export Guarantee Department, which provides financial assistance to exporters of UK goods. The success of the project with Westfalia has also enabled the company to focus their attention on future ventures. Furthermore, Cube Precision has been able to expand its workforce by another five employees, two of which are apprentices.
Cube Precision operates 11 CNC machines, 24 hours a day, five days a week to fulfil the needs of leading companies in the aerospace, defence and automotive industries. Their extensive customer base includes Jaguar Land Rover and BAE Systems. They have been highly successful in supplying these sectors with press tools and large CNC machined parts since their establishment in 2009. With machining centres (up to 5m), lifting capacity (up to 35T) and press try out facilities (1000T) as well as considerable knowledge and expertise, Cube Precision is clearly excelling.
