A WORLD leader in painting car and telephone parts is expanding with the help of £3.1m from the Bank of Scotland.
APL Technologies, which is based in Middlesbrough, is planning to step up its manufacturing operation using the grant from the bank's corporate banking division.
The organisation employs 176 people and has a turnover of £20m.
It uses robotic equipment to apply paint on to various parts and components.
APL has just completed a number of contracts, which include painting the interior of the new Mini, the Vauxhall Vectra and the casing of Motorola phones.
The organisation has recently secured several high-value contracts from a number of blue-chip clients, and needs funding to build production lines to keep up with customer demand.
This increase in production may lead to an expansion in the workforce.
Paul Langdon, associate director for Bank of Scotland Corporate Banking in Middlesbrough, said: "APL Technologies is excelling in a niche industry and is one of several key international players.
"Its new deals and subsequent expansion are testament to the quality of the management team, and good news for its employees and the local economy."
Tim Sharma, finance director at APL Technologies, said: "We are among only a few international organisations that offer very specialist expertise in the applications of aesthetic coatings.
"The funding from Bank of Scotland Corporate Banking will help finance our expansion plans and will hopefully set us on the path for future growth over the next few years."
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