Finance boost helps manufacturer secure World Cup 2018 contract

A 69-year-old manufacturer has secured investment to help it finalise a deal working on Russia stadia in time for the World Cup 2018.

Macalloy, which has secured funding from Barclays, is headquartered in Sheffield and designs, manufactures and supplies high strength bar and cable systems.

Operating from its purpose built factory the business specialises in tension structures, façade engineering, ground engineering and post tension/concrete engineering projects worldwide.

Peter Hoy, chief executive, said: “The funding from Barclays has enabled us to finalise an exciting deal working on Russia stadia in time for the World Cup 2018. We are delighted to be involved with five of the Stadia and we are now planning ahead to 2022 and Qatar. We have already completed the refurbishment of the Al Khalifa stadium where we were first involved with the renovation in 2006 and the Asian games.

“We are now seeing enquiries for the remaining stadia both refurbishments and new builds and are hoping that our experience working on the 2018 stadia will be an excellent reference for future work.”

Barclays has provided both term debt and working capital to Macalloy which employs more than 90 staff. Turnover for the current year is expected to exceed £11m.

Neil Bradburne, Barclays relationship director commented: “With the recent exchange rate movement, UK manufacturers now have a worldwide appeal and it’s good to see a local company taking advantage of market conditions and expanding for the future. This deal is pivotal for the business and I hope we see more South Yorkshire businesses taking advantage of overseas trading, expanding for the future which in turn will benefit the economy and create more jobs locally.”