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Merthyr Tydfil printing business invests in new machinery to increase productivity PDF Print E-mail
Wednesday, 23 September 2015

A family-run printing business based in Merthyr Tydfil has invested in new machinery to increase its productivity, with the support of a £3million facility from Lloyds Bank.

Stephens & George produces and publishes a range of materials from catalogues and magazines to university prospectus and digital publications, working with customers across Great Britain.
 
As part of an on-going plan to upgrade its printing equipment, the business purchased a new Heidelberg XL Press, which is 20 per cent more efficient than the previous machine. It turned to long-term banking partner Lloyds Bank Commercial Banking for funding support, and secured a hire purchase facility from the Commercial Finance team.
 
The business, which has 235 employees, will now be able to upscale productivity and create a higher standard product using the more energy efficient press, whilst also benefitting from the reduced running costs it brings.
 
This is the fourth Heidelberg Press that the business has invested in over the past three years, all of which have been funded by Lloyds Bank, with facilities totalling £8million provided.
 
Andrew Jones, Managing Director of Stephens & George, said: “Central to our growth strategy has been completing an overhaul of our equipment so that we are operating with state-of-the-art presses that allow us to provide our customers with the highest quality products, and quicker than we ever could before.
 
“Lloyds Bank has supported us throughout this process, understanding the importance of this investment to our business’ long-term future, and our focus now is on building further our customer base and our continued reputation for providing top quality service.”
 
Lesley Williams, Regional Manager at Lloyds Bank Commercial Finance, said: “In today’s fast paced society having the ability to turn orders around as quickly but efficiently as possible is essential, and Stephens & George’s investment in this press will enable them to do so. The hire purchase facility means the purchase won’t impact the business’ day-to-day cashflow requirements, and we look forward to working with the company moving forward.”
 
Stephen Jones, Relationship Director at Lloyds Bank Commercial Banking, said: “SME businesses like Stephens & George are helping to boost economic growth, and we’re committed to supporting their long-term expansion plans, and have pledged to grow our net lending by at least £1billion to SMEs every year until the end of 2017.”

(Source - Lloyds Bank Press Release)
 

 
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