X-CEL takes a super turn with HSBC
11th July 2012
X-Cel Superturn, the Yorkshire-based global manufacturer of precision machined components has turned to HSBC to support its growth plans and today announces expansion into its second manufacturing facility in Sheffieldwith the bank's support.
The deal, worth £2.8million, was led by Chris Alsop Senior Commercial Manager in HSBC's South Yorkshire Commercial Banking Centre. HSBC has provided the company with a working capital facility and a term loan to support the fitting-out of the new premises at Sheffield Advanced Manufacturing Park. The new manufacturing facility will allow the company to increase its production capability and take advantage of new opportunities in the UIK and overseas in the petrochemical power generation, aerospace and construction sectors. The business was founded in 1982 by Managing Director Andrew Taylor as Sheffield Superturn Ltd and became X-Cel Superturn (GB) Ltd in 2007. Today 40 per cent of the company's turnover is driven through exports to Brazil, Asia and the US. Its 85-strong team is spread across three sites in Yorkshire and one in Houston, US. Martin Nattrass, HSBC's Area Commercial Director for South Yorkshire, said: -The UK is becoming increasingly well-known for its high-end manufacturing and is exporting these highly skilled, quality products to the rest of the world. X-Cel Superturn is a prime example of a business in this area which continues to innovate and grow both here in the UK and internationally. This strong and forward-thinking manufacturer has a bright future and is exactly the kind of British business that HSBC is committed to supporting. Andrew Taylor, Managing Director of X-Cel Superturn, said: -This is an exciting time for the business. The new premises allow us greater flexibility and production capacity and the new relationship with HSBC provides us with the support we need to drive strategic plans through to fruition. The team at HSBC has shown the flexibility to provide specialised financial packages tailored to our business model and future growth plans and we look forward to working closely with the team.