Coalville’s CMS Cepcor, a manufacturer of components for crushing equipment used in the mining and quarrying industries, has opened a dedicated Global Parts Centre following the purchase of additional warehouse space with a £4 million funding package from HSBC UK.
The 6000 m2 warehouse includes additional outdoor storage and is situated next to CMS Cepcor’s Technical Centre manufacturing facility on Samson Road, Coalville (UK).
The new site enables further expansion of the business’s manufacturing facilities by releasing 2500 m2 formerly used as storage to be utilised for increased manufacturing capacity in response to its growing portfolio of global customers. CMS Cepcor currently export 75% of its products overseas and is targeting further export growth especially in North and South America where a new division of the business has been formed ‘CMS Cepcor Americas’ based in Illinois to directly serve these markets.
With the expanded manufacturing capabilities, CMS Cepcor plans to increase staff headcount by 20 per cent in the next 2 years across all areas of its business.
Matthew Weare, Managing Director of CMS Cepcor said: “Following sustained growth in all business areas, we were fast reaching capacity at our manufacturing facility and headquarters. We needed a new site that would enable us to store our products and make way for further expansion of our manufacturing site to keep up with rising demand from our global customers. Thanks to the continued support of HSBC UK and our Relationship Director, Jack Coley, we’re able to drive forward our expansion plans.”
Roger Pratt, Area Director for Corporate Banking for the East Midlands, HSBC UK said: “HSBC UK’s global reach means we’re well placed to support CMS Cepcor’s export growth with efficient multi-currency banking, local market knowledge and foreign exchange expertise. We’re thrilled to have been able to support the business in the acquisition of additional warehousing space, which is integral to the CMS Cepcor’s continued growth plans. HSBC UK has provided the business with banking facilities for over 25 years and we look forward to continuing to support the business on its journey.”
Read the article online at: https://www.drybulkmagazine.com/material-handling/18092019/cms-cepcor-mines-new-markets-with-hsbc-uk-finance/
You might also like
Genco Shipping and Trading Ltd has acquired two high specification capesize vessels and has agreed to sell an older capesize vessel for US$19.5 million.