Following a switch
in banking provider, Marrill now has access to fresh funding of about £1 million. With prestigious clients such as Aston Martin and Jaguar Land Rover, Marrill may well choose to use specialist marketing services near Coventry as it aims to achieve further progress. Paul Griffin, a financial executive for Marrill, said:
“The automotive sector continues to experience steady growth and we’ve seen an increase in the demand for our components from firms in the region.”
Mr Griffin pointed out that the resources provided by Lloyds Bank Commercial Finance (LBCF) have been useful, adding that the money would enable further recruitment. In addition, he estimated that turnover could surge by a fifth. Merrill has plants in Gateshead and Coventry, with the Coventry plant located on Waterman Road.
At the moment, turnover is in the region of £15 million with about 170 individuals on the Books. 15 new posts will be at the forefront of the expansion plan. The idea is that an extra shift should be formed to meet product demand.
The firm focuses on manufacture and design processes. In particular, it makes metal pressings and press tooling. Its client list already features Honda, JCB and Nissan. This may be extended as its cash flow grows. Martin Rowe, a manager for LBCF, explained that the new deal gives Marrill security going forward. Get a Free Quote for Books