Funding will allow the firm to double its workforce in 2018.
Finance provided will enable aerospace, marine and motorsport composite specialists Cecence to enable cross over technology to be applied to the rail industry Hampshire-based composite innovators and manufacturer Cecence has secured a £500k investment from Finance Birmingham’s national Rail Supply Growth Fund. The funding will enable the business to apply its extensive experience in delivering lightweight products for the aerospace, marine and motorsport industries, to the rail sector.
To cater for its expansion plans, the deal will allow Cecence to expand their facility in Hampshire and recruit up to ten new staff members in the next 12 months, doubling its existing workforce. This increased capacity will enable the business to deliver a range of lightweight components to the rail industry. Using its hot compression process that combines different materials to create lightweight products, Cecence is able to cut the standard manufacturing time down from two hours to 17 minutes – generating large energy and efficiency savings for its clients. This innovative method, combined with the investment from Finance Birmingham, will help it to cross over into the rail industry through securing and servicing new contracts for products including floorboards, station ramps and rail seats. Established in 2014, Cecence currently employs nine people at its base in Salisbury. The firm has a track record for delivering high-quality and durable products for clients across the aerospace, marine and motorsport sectors.
Mike Orange, Director at Cecence, said: “At Cecence our talented team is dedicated to finding innovative methods for manufacturing composite products. Our current system, which helps us to cut the process down to under 20 minutes reflects this commitment, as well as the cost savings we can deliver for our clients across a range of industries.”
“The funding from Finance Birmingham’s national Rail Supply Growth Fund will help us to build on our success and compete in the thriving rail sector.”
The national Rail Supply Growth Fund, managed by Finance Birmingham and supported by central Government, provides loans and grant funding to businesses that are offering services and products that operate in or cross-over into the rail industry.
Jack Glonek, Investment Director at Finance Birmingham, said: “The team at Cecence constantly seeks to innovate and develop means of generating high-quality and cost-efficient products for its clients. Finance Birmingham is proud to help the company to break into the rail sector, a thriving industry looking to improve passenger experience while also making delivery safe, seamless and sustainable. One of the key objectives of Finance Birmingham’s Rail Supply Growth Fund is to support innovative businesses whose services crossover into rail, and we look forward to seeing Cecence break into the market and pursue its growth plans.”
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