Basingstoke manufacturer secures £750k deal to power expansion across the USA, Asia and Middle East
This also follows the UK’s largest industrial mixer manufacturer acquiring a new facility in Dudley, supporting further job creation in England.
Winkworth Machinery Limited, the UK’s largest industrial mixer manufacturer, has secured £750,000 in new financing supported by a UK Export Finance (UKEF) guarantee.
Provided by HSBC UK, the government-backed financing will enable Winkworth Machinery to expand its manufacturing capabilities and support continued job creation.
Winkworth Machinery, which has been operating since 1924, designs and manufactures industrial mixers for a wide variety of industries. The deal follows a period of expansion for the manufacturer, including acquiring a new manufacturing site in Dudley in 2024. The Dudley site has increased production capacity, reduced lead times and supported Winkworth’s ability to meet growing customer demand.
With its workforce growing, the company has created new opportunities in engineering, production and management roles in both Basingstoke and Dudley.
The £750,000 facility in Dudley will help Winkworth Machinery to secure new contracts and continue its international expansion into markets such as the USA, Asia and the Middle East.
This comes as Winkworth Machinery marks its centenary and makes separate investments into product innovation through investment in advanced simulation technologies. This is expected to improve the design and performance of its industrial mixers.
Richard Gale, Managing Director of Winkworth Machinery, said:
One of the key challenges when expanding into new markets is managing the financial risk associated with international contracts. UKEF’s support has provided us with the tools to mitigate those risks, whether it’s through export insurance or financing for specific projects.
From a financial standpoint, UKEF’s support has been a key enabler of our international growth strategy. Their funding solutions have given us the liquidity to take on new export contracts without compromising our operations or cash flow. As a result, we’ve been able to scale our operations to meet the demand in emerging markets, ensuring that we can grow without taking on undue risk. UKEF’s backing has not only supported our expansion into new markets but has reinforced our belief in the viability of these ventures in the long term.
Richard Armstrong, UKEF Export Finance Manager, Hampshire and Isle of Wight, said:
This facility is a great example of how UKEF’s General Export Facility can support UK manufacturers in expanding globally and creating jobs here in the UK. Winkworth has a long-standing history of excellence and innovation, and we are pleased to back them as they continue to grow and achieve their export ambitions.
This deal has enabled UKEF to provide Winkworth with a platform to confidently engage with customers in markets such as the US, Asia and the Middle East, improving the business’s competitive edge in international markets, allowing it to expand its customer base and secure larger contracts.
Sam Dance, Relationship Manager with HSBC UK, said:
It is brilliant to see Winkworth fulfilling its growth ambitions and to be able to support its expansion into new, international markets.
We know that businesses value the guarantee provided by UKEF and that by partnering with them we are able to provide robust financial backing to thriving UK businesses.
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Published 13 January 2025Last updated 13 January 2025 + show all updates
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An additional quote has been added to the press notice.
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First published.