Tools supplier launches £1m distribution hub

A Solihull tools supplier has officially launched its new £1m distribution facility, marking the company’s drive to secure fresh growth.

HYDE’s new warehouse and distribution centre at Stirling Road, Shirley, has the capacity to hold up to 2,500 pallets and replaces a smaller, dilapidated building that had capacity for just 350 pallets.

The new warehouse has been built in two phases, with the company benefiting from a £15,000 Business Development Grant from the Greater Birmingham and Solihull LEP to help towards Phase 1 of the new build. The LEP provided a further £20,000 for Phase 2 of the project.

The remainder of the investment was funded from cash flow and the support of HSBC.

With the warehouse construction now complete and operational, HYDE is forecasting sales growth, along with new jobs – the latter a major factor ion the LEP’s support of the project.

Richard Hyde, CEO, HYDE, said: “This is a major step change in our storage and distribution capability. We were already growing well before this investment and this is now accelerating. We delivered this major investment on time and to budget and are very grateful to the Greater Birmingham and Solihull LEP for their support.”

In recognition of the LEP’s support, former partnership chairman Andy Street – the current Conservative candidate for Mayor of the West Midlands – was invited by the firm to perform the official opening of the new facility.

Mr Street said: “It is very encouraging to see local businesses enjoying growth. HYDE has been an important part of the Solihull community for a very long time and this expansion will give the company even more potential to recruit locally. I wish them every success for the future.”

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