Sigma Precision Components bags finance
Leicestershire-based Sigma Precision Components has secured funding to fuel international expansion.
The aerospace supply chain manufacturer, which is a subsidiary of Nottingham-based Avingtrans, agreed the finance package with HSBC’s corporate banking team in the Midlands.
Sigma has funded the growth of its site in China with the money.
Avingtrans chief financial officer Stephen King said: "The investment in China marks the start of another exciting period of growth for the company, allowing us to further develop our global capability for the aerospace customers we supply.
"Setting up in China has been challenging, but with the support of HSBC and the team's global expertise and contacts we are already winning new contracts and strengthening our order book, which is having a knock-on positive effect on the business here in the UK."
The Sigma business, which forms part of the Avingtrans aerospace division, currently employs about 110 staff at its China factory site and almost 150 at its Hinckley site.
