The engineering company, based in Clay Cross, has more than 40 years’ experience in precision machining of components. Prior to their funding application, N&R Needham used traditional manual measuring tools that restricted the scope of supply and therefore reducing competitiveness.
N&R Needham acknowledged the technical gap they had, which led them to make two applications to the Invest to Grow fund from the University.
The initial funding was used to purchase and install a CNC Coordinate Measuring Machine (CMM) that accurately measures components. Subsequently, eight months later, N&R Needham received further Invest to Grow funding that was used to purchase and install a CNC Turning Centre Machine, and provided training for current employees.
Says N&R Needham managing director Joe Needham: “We’ve been able to accept orders that we wouldn’t have been able to take previously. This has resulted in revenue growth and profitability that wouldn’t have been delivered without the funding.”
The Invest to Grow funding has also enabled the business to create three new jobs with the prospect of employing a further three as well as expanding its internal research and development activities. The firm has also opened up its products to new markets and sectors.
Adds the University of Derby’s head of strategic programmes Mark Wheddon: “We are pleased to support N&R Needham with funding to purchase the machinery needed to improve the workforce and deliver quality products. The business has a lot of offer and we can expect great things from them in the upcoming months.”
