We have recently been in The Birmingham Post (26/01/2015) for securing funding from Lloyd’s bank and the Government Regional Growth Fund. The article reads-
A Black Country manufacturer whose systems were installed in the world’s tallest building has doubled production and added 8,000 sq ft to its base after securing more than £900,000 in new funding. Established in 1970, Dudley based Midtherm Flue Systems is claimed to be the only British-owned major producer of flue systems which it supplies to installers and manufacturers of wood burners and biomass appliances. The business, which also produces commercial products for boiler and diesel generator exhausts, exports to clients in the Middle East and Asia, and supplied in the exhausts and flue systems for the service plant installation at the Burj Khalifa in Dubai. Midtherm identified the need to increase its manufacturing capabilities and speed up its production process in order to remain competitive in the UK and begin new export operations to Europe.
It approached Lloyds Bank for funding and the team provided the loan to support the purchase of a new flue forming line which enables the business to roll and weld tubes automatically for its flue systems. Additional funding of £160,00 was granted using Government’s Regional Growth Fund which, together, have enabled the company to create six jobs. The business now has the capability to double its production in its existing premises, helping it to compete with products that are imported into the UK from European manufacturers.
Managing director Ray Andrews said: “The team at Lloyds Bank has been extremely supportive of our plans to enhance our production levels and the funding has been instrumental in allowing us to continue to compete in an international market. We now look forward to growing our business as we plan to double our existing market share and pursue an export strategy to Europe”.
Dave Chance, relationship manager at Lloyds Bank Commercial Banking, added: “Midtherm is an established local manufacturing firm and the company’s credibility in this highly skilled area of manufacturing is a real catalyst in fuelling its ambitious growth strategy.
“This investment marks a pivotal moment for the business, enabling it to increase its production capabilities and the new jobs that have been created as a result are positive news for the local economy”.
