Santander funds Simba expansion
Agricultural machinery business Simba International is set to expand manufacturing capacity at its Sleaford assembly plant following the acquisition of neighbouring premises on Woodbridge Road.
The deal was supported by funding from Santander Corporate Banking.
Simba, which manufactures cultivation and seeding machinery for the agricultural industry, says it will benefit from a 60 per cent increase in floor space at the plant.
The company said that the additional space will enable it to “continue with its growth strategy with confidence” and should lead to the creation of extra local once work to adapt the premises has been completed.
Colin Adams, managing director at Simba International, said: “We are delighted to make a positive start to 2011 by the purchase of additional premises as this enables us to further develop the business, whilst also demonstrating our commitment to the local area.
"We are also pleased that Santander continues to support the business and would like to thank the team for delivering the deal alongside our existing facilities.”
The sum of the deal and the finance package supplied by Santander was not disclosed.
