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Finance helps A1 Stainless break into new markets
06 Nov 2007
From a background in supplying the food and pharmaceutical sectors with precision fabrications, A1 Stainless of Dudley is now taking its expertise into the rail, defence, construction and aviation markets.
Today it produces anything from steel seat frames and aluminium body panels for new Underground rail carriages to parts for Royal Navy minesweepers. It is also supplying architectural steelwork for the entrance foyer of a major theatre development in central London and has recently supplied fabricated aluminium components used in the cleaning of aircraft jet engines.
According to A1s Managing Director John Walton, We could not be dependent on one market, we needed to find new customers to take the company forward.
The investment required to move into these new markets was financed UK Steel Enterprise. A £20,000 loan from the Corus Group subsidiary has provided new sawing and welding equipment which will increase the efficiency of its 15-strong workforce.
UK Steel Enterprise Regional Manager Keith Williams commented, We provided finance to AI Stainless a few years ago when they were just developing and had plans to expand their markets. Its good to be able to help the company again and see that their strategy is working.
UK Steel Enterprise specialises in providing loan and equity funding up to £400,000 for growing companies in the UKs steel areas.
John Walton sees the year ahead for A1 Stainless Fabrications as one of consolidation. He added, Turnover should be about the same as last years £1.2 million and we will be looking for new customers in our markets to secure our future growth.
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