Concrete manufacturer Naylor planning for £6m expansion
A YORKSHIRE-BASED concrete product manufacturer is set for expansion with the support of a £6m funding package.
Naylor Concrete Products, headquartered in Barnsley, is using the funding to support the modernisation of its concrete fencepost plant in Garforth, West Yorkshire.
The company is acquiring an automated pre-casting plant and batching plant that will feed a new factory. Naylor Concrete Products, and its sister companies Naylor Drainage Ltd and Naylor Specialist Plastics Ltd, employ 330 staff and have a combined turnover of £75m.
A spokesman added: “HSBC UK funding is supporting Naylor Concrete Products’ expansion plans, with the new plant addressing capacity constraints and underpinning a planned period of growth.
“Commissioning of the new plant will be accompanied by a training programme for the existing workforce and the creation of 10 new jobs across the business.
“With the support of the HSBC UK funding, Naylor Concrete Products is anticipating a £5m increase in turnover over the next 12 months.”
Edward Naylor, Executive Chairman of the Naylor Group, said: “The Naylor Group was founded in 1890 and recent years have seen a period of significant growth. In my first year, 1993, our turnover was £12m and we were overly dependent on clay pipe manufacture, a product we no longer make. We have evolved to being a diverse and fast-growing £80m group. This latest investment is a key milestone for Naylor; it will drive a planned period of growth in our concrete products business.”
Andy Richardson, Relationship Director at HSBC UK, added: “It’s fantastic to support Naylor Concrete Products’ development plans. Naylor has a track record of business development, and the Naylor team has shown a clear vision to invest strategically and build the right foundations for long-term growth.”
The move into concrete fencing dates from the 2020 acquisition of Garforth-based Procter Fencing; which company supplies builders’ merchants across the UK.