We have achieved significant business growth following the £1.5m investment from the Advanced Manufacturing Supply Chain Initiative (AMSCI) secured in 2014 and continue strongly with our ambitious development plans.
The initial funding from AMSCI, a fund managed by Finance Birmingham on behalf of the Department for Business, Energy and Industrial Strategy (BEIS), was provided as part of the DUTE (Dual Use Technology Exploration cluster) programme.
We were able to unlock its growth potential and ambitions, which has resulted in the business relocating to a larger facility on the Crown Business Park in Old Dalby, Leicestershire. In this new space we’ll will be able to continue with our business growth aspirations, supporting further product R&D to satisfy the growing demand for innovative composite parts in the UK motor industry.
Jamie Smith, Managing Director at KS Composites said:
“The support AMSCI provided has seen the business excel. We are continuing to innovate and develop our products, driven by our thirst for new and challenging projects”.
Andy Green, Investment Director at Finance Birmingham said “From a project commenced with AMSCI funding some three/four years ago to seeing KS move to new larger premises now to meet plans is an excellent result for lots of hard work and planning where the business has a strong future ahead”.
Will Searle, Managing Director of Axillium Research commented, “Throughout DUTE it was the engagement with small & medium businesses that underpinned the Cluster’s success. The capacity that KS Composites have gained is world class & perfectly aligned to the drive for low volume niche composite products from the UK.”.
The DUTE programme was a larger £10m project that received £6.5m from AMSCI with the aim to diversify manufactured products from the defence sector into others and was led by Marshall Aerospace and Defence Group managed by Axillium Research. With the funding the programme to date has created and safeguarded 276 jobs.