Derby-headquartered Aerodyn, a UK provider of high quality instrumentation services and products, has purchased a new wire electrical discharge machine (EDM) after securing a six-figure loan from HSBC.
The EDM machine, used to manufacture a variety of parts for turbomachinery instrumentation and development parts for the aerospace and power generation industries, has enabled the business to expand its in-house capability.
The HSBC funding package included an equipment finance loan – which supported the purchase of the EDM machine – and an overdraft. Increased customer demand for its expanded services and product base has led Aerodyn to recruit three new employees, including two senior manufacturing engineers and an apprentice manufacturing engineer.
The new EDM machine has not only enabled the company to expand its manufacturing services to customers, but is also more efficient, saving money on utilities and consumables. This has helped Aerodyn boost revenue by almost 20 percent and has put the company on track to achieve its target of £8 million UK turnover within five years.
Chris Claypole, managing director at Aerodyn Ltd, said: “With the new machine we have been able to increase machining capacity and expand our capabilities. This has enabled us to secure new custom as well as widen our services to existing customers.”
Paul Smith, area director for business banking in Nottinghamshire and Derbyshire, added: “At HSBC we’re committed to helping British businesses realise their ambitions. By providing a wider range of products for its customers, Aerodyn has been able to grow further and create new jobs in the local area. The business has strong plans for further development and we look forward to supporting its continued growth.”