Seward Secures New Manufacturing Fund
5/14/2010 2:17:47 PM
Worthing, UK – 13th May 2010. Following the rapid expansion in its business, Seward Limited, global developer and manufacturer of Stomacher? paddle blenders for over 40 years, required larger premises to support increased production capacity. With a UK base in Worthing, Sussex, and a US Subsidiary in New York, the Company has successfully met all the necessary criteria to secure financial facilities from a recently launched £1bn NatWest/RBS Manufacturing Fund exclusive to UK manufacturing businesses. With the planned move to new premises within Worthing and the expansion of existing production lines, Seward also anticipates increasing staffing levels in coming years.
Under the current ownership of John Patrick, Managing Director, Howard Mathews and Stuart Ray, Seward Limited has successfully grown since they took over the business 5 years ago, so they are now looking to the future to expand the business further. By working closely with the NatWest/RBS, the bank has developed a sufficiently sound knowledge of Seward’s business to provide £450K finance facilities from the new NatWest/RBS Manufacturing Fund. Seward is the first company in Sussex to receive funding since the fund’s launch in January.
Marcus Collie, Relationship Manager at RBS/NatWest said, “Working with Seward has instilled me with the confidence that they are well equipped to build on the Company as a leading player in a niche market across the globe. Seward Limited operates in a specialised field and continues to show promise year on year. Our latest Manufacturing Fund fitted their needs at this time and has enabled the company to acquire new premises. I wish them all the best as they continue the success story from their new premises.”
For further information, please visit www.seward.co.uk
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