Advanced manufacturer from Yorkshire drives export growth with £1.5m government guarantee
Preformed Windings Limited, a leading manufacturer of high-voltage bars and diamond coils, has secured enhanced financial backing to strengthen its position in international markets through a £1.5m trade loan facility from HSBC UK, backed by a guarantee from UK Export Finance (UKEF) – the government’s export credit agency.
The company has over 50 years’ experience manufacturing high-voltage bars and coils that are essential for stabilising and enhancing the performance of heavy machinery across multiple sectors, including hydropower, nuclear and power generation. These specialised components extend asset life, improve efficiency and reduce maintenance requirements for equipment that typically operates under extreme electrical stress.
With over 90% of its business driven by exports, Preformed Windings supplies customers across multiple continents. The trade loan facility, backed by UKEF’s General Export Facility, provides the financial flexibility needed to manage working capital while continuing to invest in growth and technical innovation, enabling the company to confidently handle large international orders and serve its expanding global customer base.
The company’s continued expansion has had a significant positive impact on the local economy in Rotherham and Sheffield. Over the past 12 months, Preformed Windings opened a new facility which has expanded production capacity and enabled better service to global customers. The company now employs more than 120 people – with 10% of staff recruited in the last six months – and expects to add further roles across production, technical, and sales teams as growth continues.
Preformed Windings works closely with Advanced Manufacturing (Sheffield) Limited and the University of Sheffield’s Advanced Manufacturing Research Centre, offering post-graduate and degree apprenticeship schemes to develop future engineering talent within the region.
Tim Reid, CEO of UK Export Finance, said: “Preformed Windings’ success shows exactly why we created the General Export Facility – to give UK businesses the flexibility to invest in export growth. Their commitment to technical innovation and training showcases why the UK remains at the forefront of advanced manufacturing.
“By backing companies like Preformed Windings, we’re strengthening the UK’s competitive edge, supporting skilled jobs, and nurturing the engineering talent that underpins our economy.”
Looking ahead, the company is focused on expanding further into markets in North America, Middle East, Japan, and Europe, which present exciting opportunities for Preformed Windings advanced bar and coil technologies and expertise in supporting high-efficiency power generation.
James Stevens, CEO at Preformed Windings Limited, said: “With over 90% of our business driven by exports, the support by UKEF and HSBC UK has been critical in strengthening our position as a global leader in high-voltage bars and diamond coils.
“The General Export Facility has given us the confidence to manage working capital to meet overseas demand efficiently and competitively. As we expand into new markets, we see UKEF as a key partner in our international growth.”
Kayley Towle, international manager at HSBC UK, said: “At HSBC UK, we’re delighted to support innovative businesses like Preformed Windings to achieve their export growth ambitions. Working alongside UKEF, this is a great example of how partnership between banking and government can provide the flexible financing that businesses need to capitalise on international opportunities.”
This latest announcement follows the publication of UKEF’s annual report & accounts for 2024/25.
Over the last financial year, UKEF provided a record £14.5bn in new financing, helping over 667 UK companies to export and grow, supporting up to 70,000 jobs across the country.