Laser Investment for Growing Sheffield Firm
Sub-contract engineering firm PCT is to invest more than £550,000 in new machinery to fuel growth in a range of sectors.
The Sheffield-based company is replacing two high definition plasma cutters with a Bystronic fiber laser which will not only safeguard existing jobs but create five new ones.
The capital investment has been made possible thanks to a Sheffield City Region Business Investment Fund grant of £50,000. The remainder of the funding package has been financed by PCT which employs 70 and operates across three large sites in Holbrook, Sheffield.
PCT, a family run business which celebrated its 90th anniversary last year, manufactures up to 50,000 towbars each year. It also fabricates on a sub-contract basis for customers creating everything from tarmac mixers to generator frames. The company has also established a strong reputation as a fabricator of working at height safety equipment.
The new machinery will allow PCT to develop new UK and overseas markets and enable it to expand its product range.
James Harding-Terry, Managing Director, said the investment would enable the £6m turnover company to achieve substantial growth.
“We’re keen to continue growing and this funding will allow us to purchase a highly sophisticated laser which will have an enormous impact on productivity and quality.
“There is significant opportunity to grow the sub-contract side of PCT and the new laser will also allow us to rival our European towbar competitors on both price and quality.
“Jobs have been safeguarded and new ones will be created from next month. This is a very exciting time for PCT, its employees and customers.”
PCT has been investing across the business in recent months. Earlier this year it launched two mobile fitting units which visit dealerships to fit towbar products. PCT also doubled the size of its on-site fitting bay.
Sir Nigel Knowles, Chair of Sheffield City Region Local Enterprise Partnership, said: “Sheffield City Region is pleased to be able to support this investment which will create jobs and boost growth at this established family-run business.
“We are working on a number of technology-driven initiatives and the Business Investment Fund was set up to help companies, such as PCT, to grow and create jobs.
“Enterprise has always been at the heart of what we do in Sheffield City Region and, with this Bystronic fiber laser, PCT will be better able to compete and further strengthen its reputation on a national and global stage.”