A Wiltshire-based carpet manufacturer has said it will increase production capacity.
Wilton Carpets received £1.3m investment allowing it to invest in new technology, which it says will increase efficiency.
Support from Lloyds Bank included asset finance, trade capital import finance and CGFI funding, which Wilton Carpets used to invest in a new high-speed loom. This the company hopes will push forward growth over the next few years as it aims to increase its manufacturing capabilities while improving energy efficiency and reducing costs.
The new machine will replace four narrow looms, reducing the amount of power consumed by 15%. The technology also weaves two and a half times faster than its previous model, allowing the business to increase its manufacturing capacity by more than 500,000 square meters per year.
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Founded in 1741, Wilton Carpets employs 90 people and is the only manufacturer in the UK that has two high-speed looms.
Alan Whittle, UK sales and marketing director for Wilton Carpet, said: “Wilton Carpets’ traditional looms have been extremely well-maintained by our engineering team and these robust machines have served us well over the decades. However, seven years ago the business recognised that investment in modern high-speed technology would yield us massive productivity benefits and so we installed the first of our state-of-the-art looms.
“We’ve now installed the second loom and the results are transformational. We can now produce carpet more quickly and with more accuracy, while producing less waste. Our factory is transforming the very traditional craft of carpet weaving into an increasingly high-tech and importantly, sustainable activity.”
Jayne Williams, relationship director at Lloyds Bank, said: “Manufacturers are working tirelessly to rebuild their supply chains in response to a more prosperous and confident economic outlook. So, it's really encouraging to see a firm like Wilton Carpets looking to take advantage of key sector demand and secure future growth opportunities.
“Our relationship with Wilton Carpets has spanned almost 20 years. We’ve provided various types of support over this time, allowing it to invest in its own growth. We’ll continue to be by the side of firms like Wilton Carpets and provide the opportunities for our region to continue growing.”
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