STRUCTURAL steel group Billington Holdings is planning to expand after investing nearly £5m in two deals for property and equipment.
It is also looking to diversify and the agreements will allow the group to move into areas which complement its structural steel divisions located at Barnsley and Bristol. The group will be looking to recruit workers who are skilled in the form of fabrication it plans to offer.
Mark Smith, chief executive of Billington, said: “It is an exciting period of change for Billington and one that the directors believe will further strengthen the Company’s market position through increased capabilities, capacity and product offerings.”
Billington has agreed to buy a 25 acre site in Shafton, near Barnsley, from Sabler Enterprises for £2.5m, which it expects will “significantly increase” the output of its structural steelwork divisions within three years. The site which has two buildings with a total of 181,000 sq ft in usable space is partially occupied by several long term tenants.
It will also spend £2.38m on equipment and other assets currently owned by Sherling Steel (UK). The deal, which is conditional on the property deal completing, is for steel processing machinery and lifting equipment that will enable the company to offer additional products.
The deals will be partially funded through the company’s own cash resources and partially from a commercial mortgage from HSBC.
