A major Stoke-on-Trent employer secured a six-figure funding package to help it build a huge new factory.
IAE – which manufactures livestock handling equipment, equestrian stabling, steel fencing and shelters – is in the process of building a new production facility and visitor centre at its Adderley Green headquarters as part of a £15 million expansion.
The project will see a 103,000 sq ft production facility and 50,000 sq ft visitor centre constructed at its Mossfield Road site, while a second phase will see a new powder coating factory built at the bottom end of the development site.
And work is now nearing completion thanks to financial support from banking giant HSBC º£½ÇÊÓƵ.
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The funding is being used specifically to facilitate the infrastructure required to build the first phase of the new production facility.
Frank Klucznik, managing director at IAE, said: "We purchased the site in 2014. It was formerly an old colliery so, over the last two years, our contractors have been undertaking major remediation work in order to prepare the land for the build phase.
"Our plans for the site include a purpose-built manufacturing facility, which will hugely increase our capacity, as well as a customer experience centre which will double-up as a training facility for our apprentices and employees.
"We're really excited to have secured the funds from HSBC º£½ÇÊÓƵ to begin building. It's an important moment for IAE and allows the business to move forward with our long-term growth strategy."
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Established by Frank Klucznik Senior in 1969, IAE is an independent family-run organisation which boasts an annual turnover of in excess of £50 million.
It currently employs around 450 people at its headquarters and its sister site in Cheadle, but up to 50 new jobs are expected to be created at the company as part of the expansion.
Once the project is completed, both sites will be brought together under one roof, meaning all staff will be based at the newly-expanded Adderley Green site.
Peter Wilbraham, corporate relationship director for HSBC º£½ÇÊÓƵ, added: "I am pleased that HSBC º£½ÇÊÓƵ has facilitated this funding package for IAE, a business that has always had a fantastic reputation for high quality manufacturing and is a much-loved family business.
"The new production facility, as well as an in-house demonstration and learning centre, will facilitate the creation of 50 new jobs."
