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A LEADING electrical manufacturer is celebrating a double helping of good fortune, after a sealing a major agreement to work with a global pneumatics company and also securing a finance package to fund its growth.
The result could see employment at Power Panels Electrical systems, based at Cheslyn Hay, surge by 20 per cent, with plans to add another 40 to its 200-strong workforce before the
end of the year.
The company makes electrical control systems for clients in a variety of industries across the UK, USA and Germany, including
the medical, automotive, energy, food processing and security sectors.
The funding injection will support its continuing growth and help it meet increasing customer demand for its electrical control systems, cable harnesses and subcontract manufacturing.
Power Panels secured a working capital injection from the Birmingham office of Lloyds Bank Commercial Banking to help
generate cashflow to meet growing demand following an ongoing increase in customer orders.