Tata Steel subsidiary backs Stourbridge firm
A STOURBRIDGE rail supply chain management company is to embark on a major expansion and export campaign after receiving finance from a subsidiary of Tata Steel.
SCG Solutions is to target new markets in the Far East, Middle East and Australasia thanks to an undisclosed sum of money provided by UK Steel Enterprise.
The firm has substantial contacts with rail clients across Europe but wanted to expand the company. It had accessed funding previously but due to Government cutbacks, the funding stream was coming to an end. After meeting West Midlands financial advisory firm Central Finance they were put in touch with UK Steel Enterprise.
It provides business finance to a wide variety of companies to encourage business growth and job creation in areas affected by changes in the steel industry. The business investor works in various steel production areas across the UK providing finance to small and medium-sized businesses.
Steve Marsh, MD of SCG Solutions, said. “Without the assistance from UK Steel we simply could not expand the business as we aim. Our plan is to market our products and services on three different continents by attending events and exhibitions.
“We have already been out to Dubai and will be going to Innotrans in Berlin later this year, where there will be rail companies from all over the world. The expansion plans will also mean new jobs being created in Stourbridge, so there are exciting times ahead for everyone at the company.”
Allan Wood, regional executive for UK Steel Enterprise, said SCG Solutions is a perfect example of a company that would be successful in applying for funding.
“We were very impressed with the long-term business plan that Steve Marsh and his team had put together. It has vision and is built on a strong trading history,” he said.
“What’s more, it will create new employment opportunities, which is a key factor for us.”
Steve Marsh met Central Finance when he attended a Black Country Local Enterprise Partnership ‘Open Access to Finance’ event.
Alison Bradley, managing director of Central Finance, says she is delighted at the way the introduction of UK Steel to SCG Solutions has worked out: “This is exactly what we’re designed to do: offer a clear, impartial view of what’s available in the marketplace in terms of finance, and assist business owners through every step of the funding process,” she said.
