Precision engineering company Promach 3D, are increasing the size of their workforce by 3.5 FTE posts with the support of a £21k grant from the Derby and Derbyshire Enterprise Growth Fund (D2EGF).
The grant contributed 20% towards an overall investment project that saw the business install a mezzanine floor to expand premises and increase workforce at Victory Rd, Derby.
Launched in 2004, Promach 3D specialise in the design and/or manufacture of conventional and complex components working from drawings, CAD models or existing parts, primarily for the aerospace, rail and motor sport industries.
By 2009 the business was ready to move into larger premises and chose a location that placed them right at the centre of the manufacturing industries in Derby. However, just a few years later the expanding business had already outgrown the purpose built unit at Victory Rd.
Managing Director Martin Spooner explains why the directors were reluctant to relocate:
We like to work in partnership with our customers, collaborating on R&D projects. Being at the heart of a manufacturing district allowed us to be accessible and responsive. Location was key to being able to work as an extension of our customers own teams.
However, the building was no longer viable for growing the business and restricting our ambitions for the company. No other premises available at the time, offered the same benefits in terms of location. We were already where we needed to be.”
After considering all options it became clear that the best solution would be to make better use of the space they already had. The solution was to install a mezzanine floor in the existing unit which would increase floor space by 70%.
Engineer and business owner Matthew Fazekas describes the project:
In order to increase our human resources and continue the development of young engineers within our organisation, I spent many months designing the layout of the floor and the new work areas.
We are pleased with the results and it gives us a great platform to welcome new recruits, train more apprentices and expand our customer base. We are thankful for the financial assistance and to our customers/staff for being patient during the disruptive period.”
The full expansion project complete with new state of the art CNC machinery complemented by CAD, CAM software and 3D printing, allows design and/or manufacture under one roof.
Results include a healthy order book based on increased customer confidence and an excellent reputation within the elite precision industries.
The D2 Enterprise Growth Fund is a partnership between Derby City Council, Derbyshire County Council, the European Regional Development Fund and the Government’s Regional Growth Fund to help small businesses in Derby and Derbyshire, like Promach 3D, to expand and create good quality, long-term jobs.
It follows the achievements of the Derby Enterprise Growth Fund in and around the city; the fund has recently been successful in bidding for additional funding to make the scheme countywide.
The funding has been awarded through the European Regional Development Fund (ERDF) and will enable DEGF to support a greater number of businesses wishing to invest in innovation and growth and job creation. The fund will now have two streams, DEGF and D2EGF.
Derby City Council Deputy Leader and Cabinet Member for Communities and City Centre Regeneration, Councillor Martin Rawson, said:
Many businesses have the potential to grow and develop but don’t always have the cash flow available when they need it. Promach 3D are an excellent example of how funding made available at the right time can benefit an SME that in turn, supports a whole industry. On behalf of Derby City Council, I am delighted to see the fund helping to stimulate growth and create jobs locally.”
Councillor Tony King, Derbyshire County Council’s Cabinet Member for Economic Development and Regeneration, said:
Small businesses are an important part of the Derbyshire economy – particularly within the supply chain which supports the county’s thriving aerospace, rail and motor industries.
So it’s important that we continue to support them as much as possible and we welcome this opportunity to help them grow and create jobs.”
To find out more visit the Derby City Council website