Cradley Heath manufacturer sets sights on growth after £7m funding deal agreed
The UK's largest independent hinge and ironmongery manufacturer has landed a £7.33 million finance package to allow it to expand.
A Perry has been provided with the funding by HSBC, and will use it to latest robotics technology, modernising production facilities and positioning it to double turnover over the next four years.
The family-run business, which was established in Cradley Heath in 1925 and is now run by the founder’s grandson, has grown in recent years to occupy 150,000 sq ft of warehousing and manufacturing space.
After expanding into the site adjacent to its original premises two years ago, the business is now looking to further integrate and develop both sites to meet increased demand.
The funding from HSBC will allow it to expand its production capabilities by modernising current facilities and tapping into some of the latest smart-technology available in the industry.
Managing director Guy Perry said: “The new site has plenty of room for growth and the funding from HSBC UK will allow us to invest in a new automated warehousing and distribution centre which will use cutting edge robotic technology.
"We've always been a company that isn't afraid to innovate and move with the times and this is no exception.
"Over the next four years, our aim is to double turnover, generate more jobs for the local community and continue to be a place where people are proud to come to work."
Keith Webb, deputy regional director at HSBC UK, added: “The Midlands has long been known as the heart of industrial manufacturing, so it is really exciting to see a family firm with such a long history evolve and embrace some of the benefits offered by the latest technology.
"The business is intent on growing its European customer base and has its sights set on expansion into the USA. We’re really pleased to help Guy and the team to achieve their ambitious growth plans.”
This foray into smart manufacturing – often known as Industry 4.0 – will allow A Perry to streamline production and logistics processes, reduce manufacturing costs and improve time to market.
With a strong domestic and international customer base of over 3,000 businesses, a £1.25m trade finance facility will allow the business to increase imports from China and India, expanding its supply chain and reaching new markets in Europe and the USA.
