- Moduflex opens workshop dedicated to MFC furniture production
- State-of-the-art machinery installed in new site as well as in existing metal-work factory
- Expansion supported by a collaborative funding package
Bristol-based storage solutions specialist Moduflex Limited has announced that they've opened a second manufacturing site. This has been possible thanks to funding from our invoice finance and banking teams, and Lombard.
The new workshop is dedicated to producing MFC furniture. The move has enabled the company to increase its production capacity, improve product quality, and produce new and innovative product ranges. Moduflex has an existing site in Fourth Way, Avonmouth.
Moduflex has worked with us since 1999. We agreed a collaborative package that incorporated funding from our banking team, invoice finance team, and asset finance specialist, Lombard.
Lombard's asset finance contribution has allowed Moduflex to acquire the latest machinery for their new factory. Machinery at the company’s existing metalwork factory has also been updated with the addition of a new Mazak high precision CNC lathe. The equipment will enable Moduflex to improve production efficiency, drive down inventory costs and achieve its growth aspirations by letting them bid for larger contracts.
Established in 1991, Moduflex Limited is run by Richard Blunden. The company designs and manufactures space saving storage solutions, shelving, desking products and other office furniture and seating.
Richard, Managing Director of Moduflex Limited:
"The business has grown over the last few years and as a result we've decided to bring more of our production in house. This will enable us to improve efficiencies, capability and overall output.
"Thanks to the funding support we have received, we've created a brand new state-of-the-art facility and have modernised our existing factory. We're really pleased with the improvements to our production capabilities as they'll let us work towards our objectives of expanding our product lines and achieving further growth.
"We find working alongside the people who provided our funding has been an essential part of our strategy. The fact that all teams work together and we can find solutions to our banking needs in one place is a real bonus."
Wayne Richards, Relationship Director (banking team):
"Moduflex is a longstanding customer and we are pleased that we have been able to support the company and its growth. Earlier in the year, we supported the company in its shareholder buyout, restoring full control to the Blunden family and enabling them to move the company forward. The takeover has been very successful and we wish the team the best of luck with their growth plans."
Ian Hussey, Relationship Manager (invoice finance team):
"We're pleased that the invoice discounting facility has supported Moduflex during the shareholder buyout and by providing on-going working capital to fund its growth and the opening of the new production facility."
Phil Ollerenshaw, Relationship Manager at Lombard:
"I am delighted to have been able to work alongside my colleagues to provide Moduflex with a suite of machines that has improved their production capability. The new workshop is state-of-the-art and will support the company to achieve its growth aspirations."
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