Northampton-based laser cutter manufacturer CTR Lasers is 'consolidating its manufacturing base in the UK' following investment in new equipment. The company, founded in 2004, secured funding from HSBC's Assisted Asset Purchase Scheme designed to help SMEs grow their businesses.

The ￡160,000 finance from HSBC and ￡30,000 grant from the government's Regional Growth Fund has not only allowed CTR Lasers to purchase equipment, but has also created three new jobs and an apprenticeship as a result of the increased manufacturing capacity.

"This new equipment will enable us to become the leading volume producer of laser machines in the UK, competing against firms in the US, Europe and Australia," explains CTR Lasers managing director Neil Pritchett. "We'll have greater control over the quality of our machines and this move will create new jobs in UK manufacturing."

"Made in Britain carries a brand premium, so it is fantastic to see equipment that has been designed in the UK also being manufactured here," adds HSBC's Northamptonshire, Milton Keynes and North Bedfordshire area commercial director Andy Mason. "I would urge other businesses in a similar situation to get in contact with us to discuss whether the Regional Growth Fund scheme could support their future plans."