Winkworth Machinery Limited, which has been operating since 1924, secured £750,000 in new financing supported by a UK Export Finance (UKEF) guarantee.
This funding will help the Basingstoke-based company expand its manufacturing capabilities and create jobs.
The acquisition of the Dudley site last year has increased production capacity, reduced lead times, and helped meet growing customer demand.
The company has created new engineering, production, and management opportunities in both Basingstoke and Dudley.
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The £750,000 facility will help the company secure new contracts and continue its international expansion into markets such as the US, Asia, and the Middle East.
Richard Gale, managing director of the company, said: “One of the key challenges when expanding into new markets is managing the financial risk associated with international contracts.
“UKEF’s support has provided us with the tools to mitigate those risks, whether it’s through export insurance or financing for specific projects.”
Richard Armstrong, UKEF export finance manager, Hampshire and Isle of Wight, said: “This facility is a great example of how UKEF’s General Export Facility can support UK manufacturers in expanding globally and creating jobs here in the UK.
“Winkworth has a long-standing history of excellence and innovation, and we are pleased to back them as they continue to grow and achieve their export ambitions.”
Sam Dance, relationship manager with HSBC UK, said: “It is brilliant to see Winkworth fulfilling its growth ambitions and to be able to support its expansion into new, international markets.
“We know that businesses value the guarantee provided by UKEF and that by partnering with them, we are able to provide robust financial backing to thriving UK businesses.”
