Steelworks firm gets £500K of funding
BOLTON-based steelwork contractor BD Structures has received a funding package of nearly half a million pounds to boost efficiency and productivity.
HSBC’s deal with the £5m turnover company provides £490,000 with an asset finance facility to import a steel processing machine from the Netherlands.
In addition, HSBC has provided BD Structures with financing to purchase brand new single-story office and industrial premises. The business will be expanding into the 8,500sq ft space this year.
BD Structures has recruited three new apprentices, all living locally to support the growth of the business. HSBC’s support has also helped the business further its commercial strategy, which involves a new recruitment drive for technical and production staff.
Chris Heys, managing director, BD Structures, said: “We need up-to-date machinery to ensure we give our customers a quality product on time.
“We are also keen to minimise our energy usage. It’s often difficult to do this without drawing on working capital. Thanks to the bank’s support, we were able to purchase the new equipment whilst keeping a healthy working capital in place to support the on-going business.
“HSBC recommended an innovative solution to help us import a much-needed piece of equipment, making it possible for us to become more efficient and add value to our customers. What’s more, our new home will soon enable us to work from a bigger, better facility.”
Sam Roden, HSBC’s area director in Greater Manchester for Business Banking, said: “BD Structures is an ambitious business that has plans to grow significantly over the next few years. It has been supplying to the construction industry for nearly two decades and has built a strong reputation amongst its clients.
“This finance package will help support this entrepreneurial British business to tap into the many commercial opportunities that the Greater Manchester region has to offer.”
Established in 1997, BD Structures offers steelwork to clients in a number of sectors, including education, health, industrial, leisure, residential, retail and commercial. BD Structures has previously worked with the renovated former Victorian swimming baths in Manchester.
