Oracle Precision, the Barnsley-based manufacturer has already experienced a significant amount of benefit from being awarded to develop specialist parts for jet fighters. The company was set up six years ago by Ryan Taylor and Shaun Palmer, who have both, in the past worked in the medical manufacturing sector but had both experienced downturns in their business.
The company was first created in order to manufacture highly specialised parts to be used by customers in a range of different sectors. Oracle work with customers in the rail, medical and aerospace sectors. The latest contract the company has will last for about five years and is completely different to the work that has been undertaken by the company in the past. Recently, Oracle Precision has been manufacturing parts for medical drills and parts that were used to improve rail safety. Oracle focus time, materials and energy into offering a range of alternative approaches to the benefit of the customer as well as the manufacturer.
Oracle Precision has succeeded as a testament to the engineering and innovation skills that have been employed by the company. This new contract will add to their portfolio and will hopefully lead to similar contracts going forward. The awarding of this contract will allow lead to a more diverse range of services for the future.
The R&D tax credit specialists Jumpstart helped Oracle Precision with the application for a tax-credit scheme which allows the company to explore more innovative solutions. To begin with the company was unsure whether they would qualify for such a scheme, however, the tax credit specialists looked into all of their work in order to create a comprehensive dossier for HMRC. All of the money that is gained through this scheme has and will continue to be put back into the development of the company and allows Oracle Precision to take on more apprentices as well as buy new machinery.