By Daniel Hunter

Wigan-based Safelok Components Ltd, a manufacturer of high pressure valves and fittings for use in the oil and petrochemical industry, has announced plans to grow internationally thanks to a consolidation of their banking.

The deal sees the company gear up for future international growth through the simplification of its banking arrangements. With export sales accounting for 80 per cent of the business, international trade is critical element of Safelok Components’ growth strategy.

And, with an established customer base across Europe, Asia and the Middle East, the company is now looking to new opportunities in key emerging markets.

Leigh Briggs, HSBC’s Area Commercial Director for Lancashire and Cumbria, said: “The engineering sector is one of the UK’s greatest wealth producing sectors and therefore forward thinking companies such as Safelok Components have a critical role to play in the overall economic recovery.

“While many economies across Europe continue to face challenges, HSBC’s recently released Global Connections report shows there are many other global markets where growth is dynamic, presenting a real opportunity for businesses like Safelok Components.”

David Barton, Managing Director of Safelok Components, said: “Our business is an export led business that has continued to grow internationally despite the turbulent economic climate. Therefore, we needed a bank with international expertise which could align our banking globally. We are now in a position where we are appropriately funded for growth, and we are looking forward to taking advantage of further exporting opportunities across the world.”

Safelok Components has a turnover of £5milllion and employs around 50 people.

'Open to Export' is a UK Trade & Investment (UKTI) initiative in partnership with hibu plc (formerly Yell Group).

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