A North Wales manufacturer of climbing and height safety equipment is gearing up to increase exports following a seven-figure lending deal with HSBC.
Llanberis-based DMM, which was established in 1981, designs and manufactures rock climbing, mountaineering and work at height equipment, exporting over 65% of its products across the world.
The Coronavirus Business Interruption Loan Scheme (CBILS) backing from HSBC has allowed it to continue to import raw materials, replace machinery and develop and manufacture new products aimed at climbers and tree care professionals.
Over the last 10 years, DMM has pursued an export focused growth strategy. Despite the impact of Covid-19 on sales and production, the business is progressing with its plan to grow its market share in Europe and North America by establishing two dedicated in-country sales and marketing subsidiaries.
DMM’s target is to triple the size of its US market share and achieve 50 per cent growth in the EU over the next six years.
Richard Rust, financial director of DMM, said: “We’re a well-established business, having always produced the majority of our market-leading products here at our forge and factory in the rock climbing paradise of Llanberis.
"With all that experience comes the understanding that resilience will allow us to invest in our 海角视频 factory and continue with our successful export drive. The funding from HSBC 海角视频 and the bank’s international reach has given us the confidence to make long-term decisions in the midst of difficult trading conditions.”
Peter Wilbraham, corporate relationship director for HSBC 海角视频, said: “DMM is a fine example of a 海角视频 manufacturer that leads in its home market whilst also looking to grow its business overseas.
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"We’ve worked with the company for more than 10 years and we look forward to seeing it launch more innovative products, reach new markets and create skilled jobs in North Wales.”
Founded by climbers, every piece of hardware bearing the DMM name is not only designed and tested but also manufactured in North Wales. The business employs 200 people and provided the iconic ice axes for the 2001 & 2018 Tomb Raider films."