PS750k loan aids Midtherm plans.
A Dudley-based manufacturer of commercial and domestic flue systems has bought new machinery with the support of a PS750,000 loan, creating six new jobs.
Established in 1970, Midtherm Flue Systems Ltd, is the only Britishowned major producer of flue systems, which it supplies to installers and manufacturers of wood burners and Biomass appliances.
The business, which also produces commercial products for boiler and diesel generator exhausts, exports to clients in the Middle East and Asia, and supplied the exhausts and flue systems for the service plant installation at the Burj Dubai development.
Midtherm Flue Systems, located in New Road, identified the need to increase its manufacturing capabilities and speed up its production process in order to remain competitive in the UK and begin new export operations to Europe. It approached Lloyds Bank Commercial Banking for funding, which provided the loan to support the purchase of a new flue forming line, which enables the business to roll and weld tubes automatically for its flue systems. Additional funding of PS160,000 was granted using the Regional Growth Fund (RGF), which supports businesses looking to purchase new assets and create economic growth and local employment opportunities.
David Chance, relationship manager at Lloyds Bank Commercial Banking and Ray Andrews, <Bmanaging director of Midtherm Flue Systems