Funding Supports Macalloy Expansion

Sheffield-based manufacturing business Macalloy is using funding to support its expansion with a new trade deal for work on stadia set to host matches at next year's World Cup already secured.

With roots dating back to 1948, Macalloy is headquartered in Dinnington and designs, manufactures and supplies high strength bar and cable systems.

Chief executive Peter Hoy said: "We've been trading successfully overseas for some time now but we're always looking for new projects and 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 who employ more than 90 staff. Turnover for the current year is expected to exceed £11m.

Neil Bradburne, Barclays relationship director, said: "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."

Source: Laurence Kilgannon, Business Insider

Last Updated: 23/05/2017
Author: Renate Halton

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