A Derby-based engineering company which supplies specialist parts to Rolls-Royce plc has been supported with a £28,455 grant from Derby Enterprise Growth Fund.
Supported by the Government’s Regional Growth Fund and run by Derby City Council, the £20 million DEGF aims to support growth and job creation in businesses in the city and surrounding area through a mix of loans and grants.
Long-established Patterns (Derby) Ltd, based in Darley Abbey Mills, supply pipe fixtures for the new Rolls-Royce XWB engine as well as specialist engineering services for Rolls-Royce Power and a growing number of international customers.
The grant money has enabled the company to buy a new CNC lathe and delivery vehicle to increase Patterns’ efficiency and enable it to take on more work. This will lead to the creation of two new engineering jobs to boost the 15-strong workforce.
Patterns has been operating as a family-run business since the 1940s and was bought out three years ago by two of its employees Stephen Smith and Simon Walters.
Mr Smith explained: “Our existing lathe was more than 20 years old and was costing us a great deal every month to repair and maintain.
“We needed to invest in new machinery but were held back by the lack of affordable bank lending available so we are extremely grateful for the support from Derby Enterprise Growth Fund.
“This will enable us to increase the efficiency and accuracy of our work and to attract new customers both in the UK and abroad.
“If all goes well we will be looking to take on another production engineer and an apprentice in the next 12 months.”
Derby City Council Leader Cllr Paul Bayliss chairs the DEGF panel of industrial and financial experts who consider business applications.
He said: “Engineering companies such as Patterns are the life-blood of the local and regional economy.
“They not only support major employers such as Rolls-Royce through the local supply chain but also create and retain much needed skilled engineering and manufacturing jobs which have earned us the reputation as the UK’s number one high-tech city.”
Applications for the Derby Enterprise Growth Fund continue to be accepted by Derby City Council. To find out more visit: www.derby.gov.uk/degf . Alternatively call 01332 641628 or email firstname.lastname@example.org.
Source: Derby Enterprise Growth Fund