The multi-million pound funding deal from a partnership with SCCB, together with a grant from Leeds City Region Enterprise Partnership (LEP), will enable the company to capitalise on improved market conditions in the UK construction industry.
Newlay Concrete, which is part of the Hargreaves (GB) Group, and has seen annual turnover grow to £9.5 million in 2014, has become a significant supplier of high-quality concrete blocks. It currently manufactures 15 million units per year at three manufacturing sites across Yorkshire and will continue to invest for future growth. The blocks are used for a variety of building applications in residential and commercial projects including flooring, foundations, coursing and retaining structures.
The funding from Santander and the LEP will enable the company, which currently operates on a 24 hour shift system, to respond to increasing demand and expand its production capacity and diversify into other products. The new plant will be fully operational by March 2016 and the project will create 35 additional staff over the next five years.
David Beaumont, Managing Director of Newlay Concrete, said: “Newlay Concrete is benefitting from incredible demand for our high quality products. Santander Corporate & Commercial has been invaluable in helping us realise our plans for future growth, and the funding will help us to upgrade our facilities and expand further. I’m confident this will help the firm secure new customers and provide more flexibility and headroom for the business.”
Liz Pickering, Relationship Director, Santander Corporate & Commercial, said: “Newlay Concrete is a great local UK success story, and we are delighted to be able to support the firm as it looks to grow further. The management team are very experienced in the market and are always looking at new innovations to improve the performance of the Group. The purchase of an additional line in Dewsbury will significantly increase production capacity and enable the firm to cater for the incredible demand it is seeing from its client base, and is a clear indication of the firm’s appetite for expansion and focus on product excellence.”
Roger Marsh, Chair of the Leeds City Region Enterprise Partnership (LEP), said: “We are pleased to have supported this business to increase production and meet the growing demand from its customers. I am delighted to see the impact of this investment and hope it will continue to grow and create new jobs within the region.”
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Notes to editors
For media enquiries regarding Newlay Concrete Ltd, please contact Colin Hughes on 01924 456416
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