A Flintshire pipe and steelwork maker has moved to larger premises and expanded its workforce in a £340,000 investment to meet growing demand, supported by Barclays.
MG Engineering has taken a 10,000sq ft unit on Manor Industrial Estate, Flint, and hired a further seven people, bringing its employee total to 20.
The £260,000 commercial mortgage from Barclays included a £10,600 cash back payment which MG Engineering will reinvest to extend its range of in-house services. The firm fabricates and installs pipe-work and steelwork, and provides complete project design and modelling, fabrication and installation, bespoke sheet metal work and metal profiling.
Many of its customers are manufacturing companies, some of which have used MG Engineering's services since its formation in 1992.
Managing Director Adam Greaves took over the business from his father two years ago and made expanding the client bases a priority.
He said: "Our previous premises in Mostyn restricted our capacity for growth. "One concern we had was that as well as the need for greater space, we would want additional capital to make the most of that space, adding new equipment and an inhouse professional CAD service.
"The funding package from Barclays combined with the cash back payment meant we could achieve both goals in a relatively short space of time.
"This year has been terrific to MG Engineering so far and I'm optimistic that the future looks just as rosy for our business."
Adrian Roberts, Business Banking Manager for Barclays, said: "SMEs such as MG Engineering are the lifeblood of our economy. This is a great example of a local family firm using their skills and experience to grow a successful business, in a difficult environment and competitive sector. Barclays Business is committed to using our local knowledge and experience to support such propositions, which are vital to a prosperous economy.
By working closely with our customer, Barclays Business has been able to support MG Engineering both financially and professionally throughout this expansion.
"Investment in the new premises demonstrates both Barclays Business and MG Engineering's confidence in the continued growth and success of the business."