Dymag looking to secure 'seven-figure sum' for new factory
British performance wheel manufacturer seeks funding
PERFORMANCE wheel manufacturer Dymag is looking to raise £500,000 in the hope of building a new factory in Bristol.
The company has already secured £185,000 and is now offering smaller investors the opportunity to buy shares from £1,000.
Dymag says that the money raised through Syndicate Room, an online crowdfunding platform, will enable them to continue with their plans to work with the National Carbon Composite Centre in Bristol, where they build and test products.
Chris Shelley, CEO of Dymag, said: ‘If it’s successful, we’ll be looking to raise a seven-figure sum to build a new factory.’
The British company traded as Dymag Racing UK until it was forced into liquidation in 2009. The brand was relaunched in 2010 by CSA Performance Wheels.
‘We've been successful in re-establishing the company since 2009 and we're back to where we want to be with our bike range.’, added Shelley.
Dymag currently has eight staff but is looking to increase that number up to 50 over the next two years.
Anyone who invests in the company before 29 January, 2015, will receive discounts on all Dymag products for as long as they remain shareholders.
