The business has used the funding to purchase five Computer Numerical Control (CNC) machines as well as a noise, vibration and harshness (NVH) dynamometer.

The CNC machines will be used to manufacture brake calipers, Master Cylinders and Pedal Box components to increase capacity and support with product development. The new machines will enable Alcon to produce 60,000 brake discs per year which is an increase of 100%.

The NVH dynamometer allows Alcon’s research and development team to detect, measure and solve brake noise and vibrations during product development. By using this cutting-edge technology, Alcon can test at varying speeds, temperatures and humidity to simulate real-life operating conditions. This machine is only one of two NVH dynamometers in the UK.

These investments follow on from Alcon’s acquisition of US brake specialist Pro-system at the end of 2017 which was also supported with finance from HSBC UK. The acquisition enabled Alcon to expand its presence in the USA and widen its product offering.

Alistair Fergusson, Group Managing Director of Alcon, commented:

“We thrive on the challenge of devising innovative and unusual solutions for our customers. These investments and the support of our HSBC UK Relationship Director, Andy Benson, ensure we can continue delivering world-class brake components.”

Claire Brunning, HSBC UK Area Director in the Midlands, said:

“Alcon is a great example of the manufacturing and automotive excellence here in the heart of the Midlands and we’re thrilled to be able to support the business in their growth ambitions. These investments will enable Alcon to grow its presence in the UK and overseas, and continue to fly the flag for British manufacturers.”