New Machinery Springs Into Action At Southern Springs & Pressings With Backing From NatWest & Lombard
New Milton, Hampshire, June 2008 – Local manufacturer of springs for all purposes, Southern Springs & Pressings Ltd, celebrates its 60th anniversary and invests in new state of the art technology propelling it to the fore of its market place with financial backing from NatWest and Lombard, the asset finance provider.
Founded in 1948, Joseph Williams and Richard Fletcher Jones - both from the wartime aircraft industry - established the company when spring steel was on ration. Today the company is led by David Banks-Fear, Managing Director, who joined the company as an apprentice in the 1970's and continues to adhere to the company's established high reputation as a manufacturer of springs and pressings to a broad range of customers and sectors including medical, aerospace, and automotive industries.
The company has banked with NatWest since its inception and approached its relationship manager Peter Rollett from the Bournemouth team for assistance in investing in new technology. Peter worked alongside his colleague Russell Watling, Relationship Manager at Lombard, the asset finance provider, which is part of the RBS Group along with NatWest, who led the Lombard team in funding two Wafios machines, one of which is the first of its kind in the UK.
These new machines provide a range of state of the art applications and will hugely increase output capacity whilst retaining the superior quality of product that Southern Springs & Pressings Ltd has become known for. This investment in new, cutting edge machinery marks the biggest investment in technology the business has ever made.
David Banks-Fear, Managing Director at Southern Springs & Pressings Ltd commented:
"I am delighted with the new machinery, as this now means that in terms of our capabilities we are at the fore of the market. We have
the ability to increase our output and respond to our ever increasing demand using this latest technology.
"I would like to thank both Peter and Russell who have worked closely with the business to understand our business objectives and provide bespoke funding solutions enabling us to equip to a cutting edge standard."
Russell Watling, Relationship Manager at Lombard said:
"It has been a pleasure to work with the team and understand their long-term business plans. By working closely with Southern Springs
& Pressings we provided a funding package enabling investment in this new machinery which was key in helping the company move forward and
achieve its ambitious business aspirations."
Peter Rollett, Relationship Manager at NatWest Commercial Banking in Bournemouth added:
"It is fantastic to see the new machinery up and running and the business performing better than ever. I have continued to work closely
with David and to help ensure we are able to provide a comprehensive banking service. When David considered investing in new technology,
I was able to involve my colleague from Lombard, Russell to provide specialist funding support. I wish Southern Springs and Pressings every
success for the future as it continues to grow."
- Ends -
For more information, please contact:
Emma Lyons
Media Manager, The Royal Bank of Scotland
Tel: + 44 (0) 7771 938 563
Email: emma.lyons@rbs.co.uk
Notes to Editors
The Royal Bank of Scotland Group
The RBS Group is one of the world's leading financial services companies providing a range of retail and corporate banking,
financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in over 50 countries across
Europe, the Americas, Asia and the Middle East serving more than 40 million customers and employing more than 170,000 people.
In addition to the provision of a full range of banking services under The Royal Bank of Scotland and
NatWest brands, RBS Group also includes ABN AMRO, Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill.
