We are delighted to confirm our plans to develop a bespoke state-of-the-art manufacturing, research and development centre in Raynesway, Derby.
Thanks to support from the Derby Enterprise Growth Fund (DEGF) we can forge ahead with our expansion plans, increasing our capacity and create new jobs in what will be one of the largest purpose-built composite factories in the country.
Through the DEGF we were able to secure a £4.75 million loan, which will enable us to drive forward ambitious plans to develop our new £6 million facility and invest in new equipment – with the result of at least doubling our number of employees from the current 75. This is the first major project to be supported through DEGF, a £20 million fund run by Derby City Council, to support the growth and job creation at small, medium and large size businesses through a mix of loans and grants.
When complete, the new centre, which is earmarked for completion by Easter 2014, will span more than 50,000 sq ft – more than doubling our existing capacity. The funding will enable epm to expand our offer to new industries through applied know-how as well as those we already supply including motorsport, aerospace, defence, rail and advanced engineering.
Managing Director, Graham Mulholland said: “I am hugely delighted that Derby City Council has had the foresight to bring the Derby Enterprise Growth Fund to the city and is supporting us in our ambitious growth plans. We are a high performance engineering company, which does not seem to fit into the high street banks’ lending criteria and have therefore struggled to secure the necessary funding to move forward with our plans.”
Derby City Council Leader, Councillor Paul Bayliss, said: “epm:technology is a perfect example of what we set out to do with this programme – to enable innovative businesses to grow and create a wide range of jobs, particularly in the planes, trains and automotives sector for which Derby is famous around the world.
“The size of the loan reflects the calibre and high tech nature of the jobs created which are much needed in the city and the added value that epm: technology will bring to the city in many ways including links with the University of Derby.”
Mulholland added, “Derby is a city that is going places and a centre of excellence for high performance engineering and I am delighted that the next chapter in this business’s story will be at the heart of that success.
“We will be looking to work hard to bring in more work and pay off the loan as quickly as possible so that other high-growth companies like ours will be able to benefit from the fund.”