A prominent automotive manufacturing supplier based in Warwickshire has embarked on a significant expansion, marking a new chapter in its growth trajectory.
The company has invested in a substantial enlargement, acquiring a larger facility adjacent to its original site, effectively doubling its operational space to an impressive 10,000 square feet. This expansion aligns with the company’s ambitious growth strategy, aiming to bolster its annual turnover by an additional £1 million within the current fiscal year.
Protec, the innovative firm behind this strategic move, has capitalized on the expanded infrastructure to establish a dedicated assembly line at the new location. Moreover, the company has diversified its service portfolio to include offerings such as leather wrapping, enhancing its capabilities in electric vehicle manufacturing alongside existing operations.
Facilitated by a £400,000 loan from Lloyds Bank, this expansion endeavor has already resulted in the creation of three new positions within Protec’s assembly line team. Anticipating further growth, the company aims to onboard an additional four team members by the summer of 2024.
Protec, renowned for its utilization of cutting-edge technologies and specialized manufacturing techniques, caters to clients across various sectors including automotive, rail, defense, and aerospace. Recently, the company achieved international-standard accreditation, underscoring its commitment to manufacturing excellence.
Lee Horton, the managing director of Protec, expressed his satisfaction with the expansion, emphasizing the longstanding partnership with Lloyds Bank spanning over 15 years. Reflecting on the company’s evolution from humble beginnings in a serviced office to its current stature, Horton highlighted the company’s philosophy of identifying high-demand areas and investing strategically. The expanded space has not only enabled Protec to secure additional production lines but has also provided ample opportunities for both business and team growth.
Jessica Fox, relationship manager at Lloyds Banking Group, commended Protec’s proactive approach to expansion and affirmed the bank’s commitment to supporting the growth ambitions of West Midlands manufacturers. Fox reiterated Lloyds Bank’s dedication to standing by Protec and similar enterprises as they endeavor to meet the evolving needs of their clientele.