Bulletin

K J Ryan to purchase new plant and equipment following record demand

K J Ryan, the Coventry-based manufacturer of high specification car interiors for the automotive industry, is to purchase new plant and equipment to cater for strong demand from clients such as Bentley and McLaren following a £1.1m funding deal from Santander Corporate & Commercial. KJR has enjoyed strong growth over the past eight years and is currently experiencing record sales. To cater for this demand, the funding package from Santander will help KJR to purchase specialist new plant and tooling equipment – it will also provide additional working capital to support the firm's target of increasing annual turnover by around 50% over the next three to four years. Kevin Ryan, Chairman of K J Ryan Ltd, said: 'The funding from Santander has been invaluable, providing us also with greater headroom in the day-to-day working capital cycle as well as enabling us to better showcase our capabilities to major manufacturers.' Michael Durkin, Relationship Director, Santander Corporate & Commercial, said: 'KJ Ryan is a great local UK success story, and we are delighted to be able to support the firm as it looks to grow further.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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