Polyurethane specialist CTM has clinched contracts in North and South America and created new jobs after moving to new premises in Barnsley, with the help of a six figure loan from Lloyds TSB Commercial.
CTM manufactures polyurethane insulation and the equipment to make it and the move to the Zenith Park industrial estate, close to the M1, at Barugh Green, has enabled the company to streamline operations that were previously spread over four sites and helped it win orders from Texas and Brazil.
As a result, CTM has been able to boost its turnover to around £1.5 million in the process.
CTM was set up in 1990 by director Shane Wootton, who and decided to establish his own company to take advantage of the niche market for high-performance polyurethane insulation after working with similar materials in car manufacturing for many years.
The company lays claim to being the largest UK based polyurethane machinery specialist, supplying clients in the UK and abroad with specialist equipment of its own design as well as ranges of machines made by global manufacturers.
Shane Wootton said: “The new building has allowed us to bring all of our operations together under one roof, which has saved us money in overheads and boosted our efficiency enormously as we’re better able to coordinate all of our activities. It also gives us plenty of space for future expansion.
“Our moulded insulation is used in a wide variety of applications, from refrigerators and buildings to undersea oil pipes, where high performance is crucial and there is no room for error, so our continued growth in the sector is a huge vote of confidence in the quality of our products.
“The continued support over the years from Lloyds TSB Commercial, particularly in securing our new premises, has played a vital part in our growth and has enabled us to successfully pursue new contracts at home and abroad.”
Lloyds TSB Commercial’s Steve Chesterman said: “Manufacturing firms like CTM are a vital part of the UK economy and play an important role in championing UK business overseas.
“We’ve established a strong, long-term working relationship with the company that has meant we have been able to quickly provide the right funding packages to support its expansion plans.”