Steel business relocates to new location, creates 20 new jobs

Capital Reinforcing, which specialises in the cutting and bending of steel for the construction sector, has relocated from Belfast to Bromborough with the support of a £4m combined loan and working capital facility, a recent news report in the local business media has been able to reveal.

The company has invested in a new 36,000 sq ft head office and processing plant in Bromborough. This will enable the business to import raw material via the Mersey Ports and then deliver finished goods quickly to the rest of the UK mainland.

The new facility has created 20 new jobs, safeguarded 14, and will help the business to increase capacity from 25,000 tonnes of cut and bent steel per year to 40,000 tonnes. As well as improving efficiencies and reducing transport costs, turnover is forecast to double to £24m by the end of 2016.

Dermot Owens, director at Capital Reinforcing, said: "We have developed a strong relationship with Barclays and have been extremely impressed by their sector focus, the proactivity and their willingness to lend. The relocation will significantly increase the capacity of the business and enable us to take on more significant projects in the future."

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