HSBC UK funding gives Willenhall traffic sign firm the green light
Morelock Signs, the Willenhall-based traffic sign designer, manufacturer and installer, has expanded its services by purchasing one of the largest traffic-sign manufacturing machines in the world, supported by a £160,000 HSBC UK loan.
Morelock, which supplies a range of signs from intelligent transport to health and safety signage, purchased a Durst Rho 163 TS printing system from 3M to expand its capabilities in both the traffic and commercial sectors. The new machine will enable a production increase of 25 to 35 per cent and creates much more detailed images than the previous system allowed.
The purchase comes as part of Morelock’s expansion plans, which follows a recent complete re-finance to HSBC UK in 2018.
Mani Yazdanpanahi, managing director of Morelock Signs, said: “HSBC’s support has meant we can reinvest back into the business and focus on expanding our services and improving productivity. I’m thrilled with the level of support we’ve received from the bank – the Durst machine will create a new revenue stream by helping us expand into the commercial sector.”
Morelock, located in Strawberry Lane, has also used funding from HSBC UK to update its production area to increase efficiency and recruit new staff. The business aims to recruit a further 10 to15 new staff on the back of this investment, as well as increase profit by 25 per cent.
Claire Brunning, area director for corporate banking in Birmingham at HSBC UK, said: “Morelock’s new machine is providing them with a very distinctive place in the sign manufacture market and is allowing them to continue their strong year-on-year growth and offer signage to a new segment of the market. HSBC UK is committed to supporting innovative businesses with a clear vision for growth and Morelock is a prime example of this. We’re excited to watch the company realise its ambitions over the coming 12 months and beyond.”
