Prime Highlights:
- Technoset is boosting growth by investing in advanced machinery, automation, and staff training, supported by Lloyds Bank and the Manufacturing Technology Centre (MTC).
- The company is expanding beyond aerospace into high-growth sectors like telecommunications, medical, automotive, defence, and renewable energy.
Key Facts:
- Technoset received £1 million funding from Lloyds’ asset finance team to purchase state-of-the-art machines, including lathes, measuring tools, and an automated milling machine.
- The company has expanded its apprenticeship and training programme, with four staff trained at MTC, to develop the skills needed for next-generation machinery.
Background:
Precision engineering company Technoset is growing by investing in new machines, automation, and staff training, with support from Lloyds Bank and the Manufacturing Technology Centre (MTC).
For nearly 50 years, Technoset has manufactured ultra-high precision components for the aerospace sector, including landing gear, engine, and turbine parts. Now, the company is expanding into high-growth sectors such as telecommunications, medical, automotive, defence, and renewable energy.
Technoset used £1 million from Lloyds to buy new machines, including lathes, measuring tools, and an automated milling machine. This will help them make parts faster and more accurately, like tiny fibre-optic connectors.
The company is also focusing on training staff and being more sustainable. The company has expanded its apprenticeship programme, ensuring staff are equipped to operate next-generation machinery. Four employees have already received specialized training at MTC in Coventry. Lloyds has partnered with MTC since 2015 to help manufacturers access skills and expertise, with a £15 million sponsorship running until 2029.
Adam Land, Managing Director of Technoset, said: “Automation and lights-out manufacturing have been game-changers for us, increasing output and shortening lead times. Lloyds’ support has been instrumental in helping us future-proof the business and expand into new sectors.”
Stuart Andrews, Relationship Director at Lloyds Bank, added: “Technoset’s commitment to automation and apprenticeships demonstrates a forward-thinking approach. “We’re proud to support ambitious companies that keep innovating and growing British manufacturing.”
With these investments, Technoset is strengthening its aerospace expertise and preparing to meet rising demand in other high-tech sectors, cementing its position as a leader in precision engineering.
