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INDUSTRY NEWS


HSBC finance package for Micrometric’s investment in new laser cutting technology


Lincoln-based precision machinist, Micrometric, puts laser-focus on automotive sector with support from HSBC UK. The firm is now one of only 3 UK companies with this capability.


helping ambitious businesses in the UK expand their operations and thrive. We’re thrilled to be able to support Micrometric with the necessary funding to pursue new opportunities in the market and develop their production capacities.” Micrometric is a long-standing


L-R Neil Main (Micrometric) Ian Green (HSBC)


incoln-based laser machinist of precision components, Micrometric, has received a £360,000 asset finance package from HSBC UK to invest in the purchase of a specialised laser cutting machine to meet demand from the automotive sector.


L


The HSBC UK funding has enabled Micrometric to purchase a state-of-the-art tube laser cutting system, allowing the firm to execute extremely precise laser cutting operations, producing particularly intricate parts. The new machine – a Rofin StarCut – is accurate to within a quarter of a hair’s width. It is typically used for the creation of medical implants, such as stents, but allows Micrometric to reduce numerous mechanical machining functions into a single laser operation.


Having been approached by a large automotive manufacturer to produce a part that required this level of accuracy, Micrometric was able to identify wider opportunities


that made the investment viable. Being one of only three firms in the UK with this specialist equipment, the new machine is estimated to increase company turnover by around 25 per cent as Micrometric expands its presence in the global automotive sector. Neil Main, Managing Director


at Micrometric, said: “With a quarter of our business already coming from the automotive sector, we’ve seen increased demand for more intricate parts in this industry. The Rofin StarCut machine will allow us to meet this demand and continue to grow our relationships with car manufacturers. This investment allows us to enter the next phase of our business cycle as we increase our output and provide even more intricate and specific parts for a wide range of businesses and industrial sectors.”


Paul Armstrong, HSBC UK’s Area Director for Business Banking in the East Midlands, said: “HSBC is committed to


www.internationalmetaltube.com IMT December 2018 9


business that has enjoyed success over more than three decades in the industry. Founded in 1982 the business moved to its site in


Lincoln in 1994. The firm provides specialised parts for companies across industrial Britain, Europe and America. The funding comes from HSBC UK’s recently launched a £200 million lending fund to support small and medium-sized enterprises (SMEs) in Lincolnshire and the Fens, as part of its broader commitment to helping British businesses realise their ambitions for growth.


DESTINATION PROGRESS.


WITH TUBE MANIPULATION MACHINES FROM TRANSFLUID®


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