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Concrete maker cements growth with funding deal

2016-05-03 10:53   Article Source:Insider   View Times:

An Essex-based maker of concrete products has purchased new machinery to "update and enhance" its production capabilities with the support of a £480,000 funding package.


Established in 1947, Milbank Concrete Products is a manufacturer of prestressed concrete floors and associated concrete products. The business supplies a range of organisations in the construction industry including housebuilders, sports stadiums, environmental protection and the public sector.
 

The company secured a £480,000 asset finance facility from Lloyds Bank to support the purchase of a concrete batching plant to replace its existing concrete mixer.
 

The plant uses modern technology to ensure that optimum precision and consistency is achieved, as well as dramatically reducing casting time. It can be controlled remotely from anywhere in the factory and is self-cleaning.
 

Milbank said the new machinery allows it to reduce its processing speeds by 40 per cent, with the potential to increase production by up to 50 per cent.
 

The company operates from a seven-acre site at Earls Colne Business Park in Colchester and currently employs 168 staff.
 

Andy Mayne, managing director of Milbank Concrete Products, said: "With almost 70 years of experience in the manufacture of concrete products, we have built up an extensive and loyal customer base and take great pride in the high quality products we deliver.
 

"The new concrete batching plant is crucial to our operation and has enabled us to not only increase output, but also further improve the quality and reliability of products for our clients. The funding provided by Lloyds Bank was instrumental in helping us make this vital investment and we are grateful for the bank's support."

- From Insider





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