A Cornwall-based manufacturer that provides gaskets and seals to customers around the world is expanding having secured new investment.RAM Gasket Solutions, based in Redruth, is creating three new jobs and investing in new machinery having secured a £45,000 Selective Finance for Investment (SFI) grant from the South West RDA and additional investment from the South West Investment Group.
The company was advised on its SFI grant application by the corporate finance team at Winter Rule, Cornwall’s largest independent firm of chartered accountants.
John Hicks, managing director of RAM Gasket Solutions, which was founded in 1973 and employs 14 staff, said: “As a custom manufacturer we pride ourselves on our technical know-how, speed of service and reliability. This new investment allows us to take on more staff and invest in new machinery to ensure that we remain at the cutting edge in our field.”
Tom Roach, client manager at Winter Rule, said: “Having worked with John on the management buy-out of RAM Gasket Solutions four years ago we are delighted that the business is going from strength to strength and were pleased to assist with putting a finance package together. From a Winter Rule perspective this is a good example of how we work, liaising with client and potential funders to draw together a funding package. The recent recruitment of another qualified Chartered Accountant, Jenny Bickerstaff, to the corporate finance team leaves us well placed to build on the £730,000 of offers of SFI secured for Cornish businesses in recent months.”
Niki Price, business investment adviser at the South West RDA which manages the SFI scheme, said: “Our role is to invest to unlock business potential and this investment in RAM Gasket Solutions is an excellent example of that. The company enjoys an international reputation for offering customers around the world bespoke products of the highest standard.”
RAM Gaskets manufactures everything from standard pipe gaskets to parts with specialist applications for a wide range of industries including electrical, manufacturing, nuclear, oil, gas, aerospace and defence.
It boasts and in-house design team and is part of the Combined Universities in Cornwall’s Unlocking Cornish Potential initiative which places promising young graduates with progressive local companies.
The company is part of the Cornwall Aerospace Defence Initiative (CADI), a cluster of aerospace supply chain companies in Cornwall, and is one of nine CADI pilot companies in the Supply Chain for the 21st Century programme, which aims to streamline the supply chains that make up the defence and aerospace industries in order to make them more efficient and competitive. CADI companies are also working towards the AS EN 9100 quality standard to meet the stringent standards demanded by the aerospace industry.
RAM Gasket Solutions has achieved the environmental management system standard ISO 14001, and has redirected around 70% of its waste away from landfill.