News - Midlands
Ridgway secures new funding package
Ridgway Machines, the Anstey-based manufacturer of taping machines for the electrical and oil pipeline industries, has agreed a funding package with new banking partners NatWest to support current trading and help fund ongoing research and development (R&D). This includes a multi-currency working capital facility to support the operational requirements of the business, taking into account its export elements. The bank has also provided funding under the government's Enterprise Finance Guarantee Scheme to support the company's proposed schedule of R&D.