Image courtesy Technoset 
 
For nearly five decades, Rugby-based Technoset has manufactured a wide range of ultra-high precision parts, such as landing gear, and engine and turbine components predominantly for the aerospace sector. But now, the business is expanding to tap into increasing demand from adjacent high-growth sectors such as telecommunications, medical, automotive, defence and renewable energy.

 
Using a £1,000,000 funding package from Lloyds’ asset finance team, Technoset has invested in a raft of new state-of-the-art machinery including sliding head lathes, specialist measuring machines and a milling machine with automated handling.
 
The business has already demonstrated its capability in producing ultra-precision components such as fibre-optic connectors, manufactured to tolerances 100 times thinner than a human hair and its latest investment in advanced machinery will build further on this expertise by increasing production capacity and enabling Technoset to supply components to customers faster.
 
As part of its growth plan, Technoset is also investing in skills and sustainability. The firm has expanded its apprenticeship programme to ensure it has the advanced digital and technical skills needed to operate next-generation machinery, with four of its 32-strong team having now been trained at MTC (Manufacturing Technology Centre) in Coventry. Lloyds has partnered with MTC since 2015 to help manufacturers from across the region access skills and expertise, with its £15 million sponsorship running until the end of 2029.
 
Adam Land, Managing Director of Technoset, said: “As a business, we are always looking to seize growth opportunities. The automation and lights-out manufacturing we’ve introduced have been real game-changers, helping us to increase output and shorten lead times. Not only does this strengthen our existing aerospace pedigree but it also gives us much more scope and capability to break into new, fast-growing sectors.
 
“Lloyds’ support has been instrumental in helping us make these investments with confidence. From backing machinery upgrades to supporting our apprenticeship and training programme with the MTC, their involvement is enabling us to future-proof the business and ensure our team has the skills and tools needed to make the most of expanding sector opportunities.”
 
Stuart Andrews, Relationship Director at Lloyds Bank, said: “By investing in automation and advanced machinery, Technoset is giving itself the scale and flexibility it needs to move further into new high-growth sectors, while continuing to strengthen its position in the all-important aerospace & defence sector.
 
“Technoset’s commitment to apprenticeships through the MTC, alongside its push into automation, shows a forward-thinking approach that is laying the foundations for longer-term success. We’re proud to support ambitious firms like this, as they continue to innovate, diversify and showcase the very best of British manufacturing.”