Oswestry manufacturer expands and creates five jobs after landing £97k grant

Formed in 1966 and acquired by current directors Kevin Taylor and Colin Derbyshire in 2013, CV Rollers makes bearing-related products.

Since their purchase of the business, turnover has increased from £800,000 to over £2.1 million.

It formed a relationship with Hansen International, a global leader in commercial and industrial vehicle components, which has left it needing to grow the business.

Now it has been awarded a grant by the Marches Local Enterprise Partnership worth more than £97,000, as part of the Marches Building Investment Grant launched earlier this year.

Part-funded by the European Regional Development Fund, it has allowed essential expansion work to be carried out at the firm’s site on the Mile Oak Industrial Estate.

Mr Derbyshire said: “Our relationship with Hansen opened the US market to us and we’ve consequently secured orders with OEMs and two of the main fire truck manufacturers over there. Added to this, our business in the UK continues to expand on an almost daily basis.

“When we found out, from our manager at Lloyds Bank about the MBIG finance we realised that it could offer us the opportunity to fast-track our much-needed expansion to capitalise on the new business opportunities that we’re continually securing.”

The Marches Building Investment Grant totals £2.5m and is open to businesses across Herefordshire, Shropshire and Telford & Wrekin who need to fund extensions, renovations or reconfigurations of commercial premises.

Mr Derbyshire added: The impact that it will have to our business cannot be underestimated. Simply, without it we wouldn’t have been able to contemplate such a rapid expansion and it’s likely that we’d have been looking at gradual growth over two to three years, as opposed to the six months that we’ll have achieved this in.”

Having received the grant, CV Rollers will be able to create five new full-time jobs by the end of the year in addition to its existing 18 staff. The building work has allowed an extension at the side of the factory, and the installation of a mezzanine floor from which further CAD design work and administration can be carried out.

Caroline Cattle, MBIG programme manager, said: “CV Rollers has enjoyed significant growth in recent years and as this continues, the need for additional space has become a priority.

"The extension and other renovations that the grant has facilitated will allow for not only new jobs in the immediate short term, but also future growth which could create additional jobs.”