Newcastle-based precision engineering specialist EDM Zone has added a high-class Mitsubishi Electric EDM machine to its operations, thanks to financing from Paragon Bank.
To enhance its precision manufacturing facilities, the company has acquired the Mitsubishi Electric SG-S 12 S machine, after securing a £90,000 funding package from Paragon Bank’s SME Lending division.
The new machine will enable the company to meet increasing demand for its services, while significantly broadening its service proposition. EDM, or Electrical discharge machining, is a metal fabrication machining process whereby a desired shape is obtained by using electrical discharges.
Established in 2007, EDM Zone has expertise in the fields of Wire and Spark Erosion EDM, CNC Milling, CNC Turning, Precision Engineering, and R&D Technical Support and Consulting. The company has steadily built a reputation for delivering high-quality and innovative solutions, serving over 200 customers across the North East and the rest of the UK each year.
The Mitsubishi Electric SG-S 12 S is equipped with an intelligent control strategy, job planning capabilities and data analysis proficiency, allowing operators to streamline eroding tasks efficiently.
Wayne Hall, Business Development Manager at Paragon, led the funding deal on behalf of the bank and Engineering Technology Group (ETG), supplied EDM Zone with the cutting-edge Mitsubishi SG-S 12 S. ETG is known for supplying machine tools of excellent quality, sheet metal processing and industry-leading solutions across various sectors.
Paul Wilson, Managing Director at EDM Zone, commented on the funding secured from Paragon: "Thanks to the support from Wayne and the team at Paragon Bank's SME Lending division we have secured the necessary financing to elevate our operations during this massive scale-up period. The acquisition of the Mitsubishi Electric EDM machine enables us to meet the increased production demands and enhance our services to customers, whilst also attracting new business."
Steve Brown, Group Sales Director at ETG, added: “We are delighted to supply our long-standing customer EDM Zone with the updated equipment that can only benefit its proposition. We are increasingly building a strong relationship with the team at Paragon Bank, they’re enthusiasm and knowledge in the manufacturing space align with our drive and passion.”
Commenting on the support provided to EDM Zone and the strong relationship with ETG, Wayne Hall, Business Development Manager in Paragon's Vendor team, said: "We are pleased to assist EDM Zone in its journey of production enhancement. Customer satisfaction is at the centre of EDM Zone’s philosophy and we’re happy to give support and help them achieve this.
“Working with Steve and his dedicated team at ETG has been a great experience. We both take the time to understand each other’s business and deliver a solution to our mutual customer and meet their requirements.”
For further information contact:
Michael Clarke
Paragon Bank
07740090746
www.paragonbank.co.uk
Notes to editors:
Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.