Sandwell alloy wheel manufacturer, Rimstock, has secured funding to develop its manufacturing plant in West Bromwich. Some of the funding will be used to invest in new machinery and equipment and the planned expansion programme looks set to create new jobs for the town.
Rimstock designs and produces specialist cast and forged wheels for vehicle manufacturers in many sectors. It is the largest manufacturer and supplier of alloy wheels in the UK and the development of new production techniques and cutting-edge designs has made the company one of the world’s leading wheel manufacturers.
A large proportion of Rimstock’s business is the production of high-quality lightweight and optimised cast alloy wheels for target markets where quality and supply are key factors. Its customers include OEMs, motorsport and the defence sector, as well as its own aftermarket ranges under the Team Dynamics brand.
Rimstock has been approved by and supplied products to global brands, including Aston Martin, Bentley, Chrysler, Ford, Jaguar, Lotus, Mercedes Benz, Mitsubishi, Renault, Subaru, Toyota and VW.
The recent £12.4m investment package has been secured from Clydesdale and Yorkshire Banks. Some of the funding will be used for the development of a new 100,000 square feet manufacturing plant, allowing Rimstock to continue its expansion.
Rimstock has had an ongoing relationship with Clydesdale and Yorkshire Banks since 2008 and its management team believes that the banks’ support during turbulent economic times as well through a change of ownership in 2016 has helped the company’s continued growth.
For support and advice on obtaining funding and investment please visit our Access to Finance [https://www.thinksandwell.com/business-services/access-to-finance/] page.