Funding package aids global push
Reporter: Martyn Torr
Date published: 19 October 2011
OLDHAM-based Lock Inspection Group has secured a £3.4 million funding package from The Royal Bank of Scotland as the firm positions itself for global growth opportunities.
Founded in 1949, Lock Inspection Group is a respected global supplier of industrial metal detection systems and check weighing equipment to the food, pharmaceutical and textile industries, operating in more than 50 countries, with a strong presence in the US, continental Europe and China.
Based at Lock House, Neville Street, Chadderton, the firm has become the world’s leading independent supplier of industrial metal detection equipment.
In the food processing and pharmaceutical industry sectors, demands from retailers and manufacturers for high-quality products and stringent safety processes has enabled Lock to develop world-beating sensitivity and performance machines.
The RBS transaction has allowed the company to refinance existing debt and complete a modest recapitalisation, providing a strong financial footing.
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