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PRIVACY
Manufacturing

Steel business set to realise ambitions with funding package

Midland Bright Steels plans to double its workforce after securing a £250,000 finance package

Alison Bradley with Steve Sutton at the new home of Midlands Bright Steels

Midland Bright Steels plans to double its workforce after securing a £250,000 finance package.

Central Finance has agreed the funding deal with the Wolverhampton-based firm, which wants to take on an extra 10 staff.

Midland Bright Steels plans to expand into the renewable energy markets, upscale productivity, purchase new premises and invest further in machinery and infrastructure on the back of the funding boost.

Central Finance, which has offices in Birmingham, Oldbury and Worcester, worked with Sandwell Council on the package.

Midland Bright Steels has traded for over 15 years, and stocks a large and diverse range of composite steel products and also provides cutting and part finishing services to its clients.

The firm supplies into the automotive, fasteners, locks and petrochemicals sectors. Managing director Steve Sutton said: "The business has achieved good growth over the years and has built up an excellent reputation.

"However, the market has changed and we needed, and need to do more to continue to meet our customers’ demands and grow. , in particular energy markets – gas, oil, nuclear and certain renewable forms. These markets demand more finishing and part-processing of materials and larger diameters.

"To access these markets and retain our customers we had to invest in our plant and machinery and invest in new premises to accommodate growth.